Gen H and Leeds Building Society dominate the top list of providers for borrowers hoping to secure a residential mortgage product this week.
As soon as 2024 commenced, the market has been awash with cuts across the board and with the base rate predicted to fall this year, the trend looks set to continue.
In a week of jostling at the top of the tables, Virgin Money remains the leading provider for first-time buyers.
Using data from Moneyfacts, YourMoney.com takes a look at this week’s best residential mortgage products.
The best remortgage rates
Leeds Building Society boasts the best two-year fix for remortgage borrowers with a deal priced at 4.60%. The offer finances up to 75% loan to value (LTV) and comes with a free valuation incentive to a maximum of £999. Customers will need to pay a £999 fee which can be applied for directly or through intermediaries.
The top alternatives:
- Furness Building Society: To borrow more, this deal stands at 4.89% up to 80% LTV. A £999 product fee is required but a free valuation and £250 cashback are included.
- Gen H: The leading three-year fix deal priced at 4.57% up to 60% LTV. Comes with free valuation and a £999 product fee charge.
- Gen H: For a five-year fix, the provider is offering 3.99% for a maximum of 60% LTV. Perks include a free valuation, while a £999 product fee is also needed.
The best mortgage rates for home movers
Much like the three and five-year fix deals, Gen H is the leading provider for two-year rates, thanks to its 4.57% deal, which can finance a maximum of 60% of your property. Fee-wise, the product charge is £999 but a complimentary valuation is also included.
The next best:
- Leeds Building Society: A Moneyfacts’ ‘best buy’ priced at 4.81% for a maximum of 75% LTV and there is no product fee charge. A free valuation is also offered up to £999.
- Gen H: The most appealing rate for three-year fix deals. It’s priced at 4.42% up to 60% LTV and a free valuation is also part of the package.
- Gen H: A five-year fix is priced at 3.94% and will finance up to 60% of your property. The deal comes with £999 in product fees but a free valuation is also included.
The best first-time buyer mortgages
For households jumping on the property ladder for the first time, a two-year fix with Virgin Money is priced at 5.19% with a 10% deposit. Charges come in the shape of a £1,295 product fee but a free valuation is also included.
More top offers:
- Leeds Building Society: Buyers with a deposit of 5% should consider the mutual’s two-year fix offer of 5.59%. There is a free valuation included up to £999 while a product fee of £999 is also in the deal.
- Gen H: The lowest rate on a five-year fix comes in the form of a 4.90% rate for buyers with a 5% deposit. Incentive-wise there is a free valuation, while product fees come to £999.
- Leeds Building Society: The mutual’s 5.79% rate for borrowers with a 5% deposit is a Moneyfacts’ ‘best buy’ and comes with a complimentary product fee and valuation (up to £999).
