Our weekly guide on Mortgage Best Buys Mortgage Rates. We also include commentary on the current market economy whilst keeping you updated with our Guides section on our website talking about Mortgages, Protection, Money, Property and Financial Planning.
Monthly Market Commentary
Bank of England made the decision to hold the base rate at 5.25% for the second consecutive month. We have over the last couple weeks seen a number of lenders reduce rates, in hand where appropriate these reductions have been passed onto our client mortgage-deals in our mission to do right and best by our clients. However; in the last week the reductions have started to remain more static.
As per our Best Buy Tables, you’ll see 5-year fixed rates as a low as 4.90% at the lower loan-to-value brackets and 95% rates at 6.14%; therefore only ~1% difference across all mortgage-products whether you are a first-time-buyer with 5% deposit or Remortgaging at 60% loan-to-value, this shows a competitive market and lenders attempting to gain their margins across all loan to value brackets.
My expectation is the rates will remain high until we see inflation fall under 5%, currently at 6.70%, the market feels less volatile than before but still difficult to predict how the market will evolve.
First Time Buyers Fixed Rates
| Lender | Rate | Loan to Value | Rate Type |
| Skipton | 6.14% | 95% | 2-year fixed |
| HSBC | 5.69% | 90% | 2-year fixed |
| HSBC | 5.64% | 95% | 5-year fixed |
| HSBC | 5.14% | 90% | 5-year fixed |
Large Mortgage Loans Purchase Rates over £1m
| Lender | Rate | Loan to Value | Rate Type |
| Barclays | 5.72% | 85% | 2-year fixed |
| Barclays | 5.20% | 75% | 2-year fixed |
| Halifax | 5.83% | 85% | 2-year tracker |
| HSBC | 5.54% | 75% | 2-year tracker |
Remortgage Fixed Rates
| Lender | Rate | Loan to Value | Rate Type |
| Leeds | 5.23% | 75% | 2-year fixed |
| Virgin Money | 5.09% | 60% | 2-year fixed |
| Principality | 4.90% | 75% | 5-year fixed |
| Virgin Money | 4.85% | 60% | 5-year fixed |
| HSBC | 4.99% | 75% | 10-year fixed |
Buy to Let Purchase Rates
| Lender | Rate | Loan to Value | Rate Type |
| Aldermore (Limited BTL) | 4.99% | 75% | 5-year fixed |
| TMW (Personal BTL) | 4.94% | 75% | 5-year fixed |
PRODUCTS CORRECT AS OF 03.11.23
ALL MORTGAGE RATES ARE SUBJECT TO CREDIT STATUS, INCOME AND AFFORDABILITY.
ARRANGEMENT FEES AND EARLY REPAYMENT CHARGES MAY APPLY TO THESE PRODUCTS THESR ARE FOR ILLUSTRATIVE PURPOSES OF RATES. PLEASE CONTACT AN ADVISER FOR A RECOMMENDATION TO MEET YOUR CIRCUMSTANCES.
YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
