TSB, Virgin Money and Santander are all offering competitive deals for homeowners looking to remortgage their property, first time buyers and home movers.
For example, TSB boasts a 5.19% mortgage rate up to 60% loan to value (LTV) on two-year fixed mortgages with a £995 product fee.
Meanwhile, Virgin Money is offering a 5.70% two-year fixed rate with a maximum 90% LTV and a £1,295 fee.
Despite not being the best buys of the week, Santander has entered the fray with a couple of inviting deals too. Here is a round-up of the best residential mortgage rates based on data from Moneyfacts.
The best remortgage rates
With a 5.19% rate, TSB is top of the class for two-year rates and offers two deals, one with them directly and another with selected intermediaries on an LTV of 60%.
The mortgage with selected intermediaries offers incentives in the shape of free legal fees and £300 cashback as well as a free valuation. Its alternative direct option includes free legal fees and a free valuation as part of the deal.
Following TSB are these next best deals:
- First Direct: A three-year fix of up to 80% LTV and incentives including a free valuation for a 5.79% mortgage rate.
- The Co-operative Bank: A set rate of 5.09% to finance a maximum of 60% LTV of the current property and £250 cashback.
- Vernon Building Society: Lowest rate for five-year fixes at a mortgage price of 4.85% up to 80% of your property.
The best mortgage rates for home movers
If you’re moving home and looking for the lowest two-year fixed rate, head to TSB. The lender has the best rate up to 60% LTV with a 5.09% rate as well as the best options for every LTV up to 90%.
The other deals to consider:
- Nationwide Building Society: The three-year fix is the best on the market at 4.99% up to 60% LTV, with £999 product fees, plus eco-friendly incentives.
- The Co-operative Bank: A Moneyfacts best buy at a set rate of 5.23% up to 75% LTV which comes with a free valuation and a £999 fee.
- Santander: The best five-year fix deal which has 4.64% to a maximum of 60% LTV and £999 product fees.
The best first-time buyer mortgages
Buyers jumping on the property ladder for the first time ought to consider the 5.70% two-year fixed rate from Virgin Money. It comes with a more expensive product fee (£1,295) but has a free valuation.
The best of the rest:
- Santander: Offers the same rate as Virgin Money but also offers 5.15% for a five-year fix too. The lender charges £999 in fees and include a free valuation up to £1,190.
- Halifax: The rate stands at 5.25% and offers green-inspired incentives, which include a £250 if your first home has an Energy Performance Certificate (EPC) score of 81 or more.
- Newcastle Building Society: The lowest two-year fixed rate at 5.99% for first-time buyers with a smaller deposit of 5%, also comes with a £999 fee.