The Best Residential Mortgage Rates This Week 9/4/20



Initial interest period

Product fee

Leeds Building Society

1.14% fixed

2 years

€ 1,999

Barclays Bank

1.72% fixed

3 years

£ 999


1.41% fixed

5 years

€ 1,499

The Leeds Building Society has again benefited from HSBC’s hike in mortgage rates and is now at the forefront of the two-year fixed-rate mortgage Chart for those who are moving home. The home loan and savings rate is 1.14% (4.4%) fixed until October 31, 2022, after which the rate increases to 4.04%. There is a product fee of £ 1,999 which is higher than any other lender with a rate in the top 10 in this category.

Those who need to add their fee to their mortgage balance should look at the total cost of that mortgage as a slightly higher interest rate with a lower fee can result in lower overall interest costs. For example, a mortgage of £ 218,000 over 25 years with the fee added to the mortgage would cost £ 22,100.28 over two years on the Leeds Building Society mortgage, compared to the cost of £ 21,340.52 on the West Brom Building Society with one fixed interest rate of 1.24% and € 999. The West Brom Building Society mortgage is fixed until November 30, 2022, after which the interest rate increases to 3.99% floating. It also comes with a free valuation of up to £ 740. The West Brom Building Society mortgage is only available up to 60% of the LTV, while the Leeds Building Society mortgage is up to 75% of the LTV.
The Best interest rate on a three-year fixed-rate mortgage for moving home is from Platform, which is part of the credit union, but only offers mortgages through a Mortgage broker. The rate is fixed at 1.45% (3.7% APR) until December 31, 2023, after which it rises to 4.34%. The fee is £ 1,499 and includes a free assessment and £ 250 cashback.

The best three year fixed rate mortgage for those moving and available direct from a lender is Barclays Bank. It offers a fixed interest rate of 1.72% (3.2 APRC) until October 31, 2023, after which it rises to 3.59% variable. This mortgage is available to those who wish to borrow up to 75% LTV and the fee is £ 999. Free evaluation is included.
HSBC retains the top spot for the lowest five-year fixed-rate mortgage for moving home. HSBC offers a fixed interest rate of 1.41% (2.8% APRC) until December 31, 2025 and then again 3.54% variable. The fee is € 1,499.

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