This week’s best residential mortgages

This week’s best residential mortgages
Nick Cheek
Written By:
Nick Cheek

After an array of mortgages priced under 5% hit the market, high street lenders, mutuals and challenger banks have battled to be this week's top providers for borrowers.

For remortgage rates – just like last week – HSBC is among the leading providers, while Yorkshire Building Society has emerged with a range of options too. The mutual also dominates the charts for first-time buyers.

Home movers have a particularly wide selection of banks to choose from when looking for the best prices on the market.

We look at the most attractive deals for homeowners, using data from Moneyfacts.

The best remortgage rates

HSBC leads the way for another week with its two-year fixed rate and is priced at 4.93% up to 60% loan to value (LTV). It also has incentives including free legal fees and £300 cashback.

The next top rates to consider:

  1.  Yorkshire Building Society: The lowest rate for three-year fixes at 4.89% up to 75% LTV. Also offers free legal fees and valuation as incentives, with a £1,495 product fee.
  2. Yorkshire Building Society: A Moneyfacts ‘best buy’ on its deal up to 80% LTV – priced at 5.44%. There is a £495 product fee, free legal fees, free valuation and a £250 cashback.
  3. Yorkshire Building Society: Dominating the remortgage charts this week, offering a five-year initial fixed term at 4.59% up to 75% LTV with a £1,495 product fee charge.

The best mortgage rates for home movers

Households making the move should head to Barclays Mortgage for its two-year rate of 4.80% which finances 60% LTV and comes with a £899 product fee, plus a free valuation.

The next top options:

  1.  Gen H: The challenger bank boasts the lowest three-year fixed rate of 4.84% up to 60% LTV. There is a free valuation on offer but a product fee of £999 is also included.
  2.  Yorkshire Building Society: If you want to borrow more, the mutual is offering 5.14% at 75% LTV without a product fee but a free valuation and no legal fees charged on top.
  3. Halifax: For a longer-term deal, the lender has a five-year fix priced at 4.53% up to 60% LTV. The environmentally-friendly incentive is in the shape of a Green Home cashback of £250 for homes with an Energy Efficient Band of A or B, or a rating of 81 or more.

The best first-time buyer mortgages

Borrowers jumping on the property ladder for the first time can go to Yorkshire Building Society for this week’s best offers. Its two-year fixed rate requires a 10% deposit and is priced at 5.34%, this deal includes a free valuation as well as an appealing £500 cashback.

The best of the rest:

  1.  HSBC: There is a five-year fixed rate deal of 4.89% which requires a 10% deposit. The offer has a £999 product fee while incentives include a free valuation and £500 cashback.
  2.  Yorkshire Building Society: For buyers with a 5% deposit, the mutual has a deal of 5.69% which also has a free valuation. However, there is a product charge of £1,495 to pay.
  3.  Yorkshire Building Society: The lowest five-year fix on the market, charges 5.34% with a 5% deposit. The deal has a £250 cashback and free valuation but charges a product fee of £1,495.