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.
Mortgage Market Update
We enter 2024 with some lenders reducing mortgage-rates, we have seen 5-year fixed rates dip under 4% with a number of high-street lenders at 60% loan to value.
The next Bank of England base rate review is on 1st February and the most recent inflation figure at 3.90% in November. As inflation continues to fall it would be predictable the base rate will be held, it would be a shock to see a rise as much as a shock to see a fall given the market is in a period of uncertainty and perhaps more time is needed to observe where the market is heading.
In the property market, our partner Estate Agents reporting high rates of valuation requests for property sales and viewings, this positive for increased demand for properties to be sold but this could have an adverse affect on the selling prices, solidified by the reported drop in housing prices by Nationwide and Halifax property index at the end of 2023.
We continue to provide the best service for our clients, dealing with a broker is becoming more and more important to continue monitoring the market and your rate even after Mortgage Offer is crucial to saving you ££ if the market decreases. This is not a service offered direct and more importantly advice and steering around suitability of ensuring you are choosing the right product for you and your circumstances.
Here is to a prosperous 2024.
First Time Buyers Fixed Rates
| Lender | Rate | Loan to Value | Rate Type |
| West Brom | 5.70% | 95% | 2-year fixed |
| HSBC | 4.99% | 90% | 2-year fixed |
| Generation Home | 4.96% | 95% | 5-year fixed |
| HSBC | 4.54% | 90% | 5-year fixed |
Large Mortgage Loans Purchase Rates over £1m
| Lender | Rate | Loan to Value | Rate Type |
| NatWest | 5.05% | 85% | 2-year fixed |
| Leeds | 4.60% | 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 |
| TSB | 4.54% | 75% | 2-year fixed |
| TSB | 4.44% | 60% | 2-year fixed |
| HSBC | 4.29% | 75% | 5-year fixed |
| HSBC | 3.94% | 60% | 5-year fixed |
| HSBC | 4.19% | 75% | 10-year fixed |
Buy to Let Purchase Rates
| Lender | Rate | Loan to Value | Rate Type |
| TMW | 4.54% | 75% | 5-year fixed |
| CHL Mortgages | 4.57% (Ltd) | 75% | 5-year fixed |
PRODUCTS CORRECT AS OF 05.1.24
ALL MORTGAGE RATES ARE SUBJECT TO CREDIT STATUS, INCOME AND AFFORDABILITY.
ARRANGEMENT FEES AND EARLY REPAYMENT CHARGES MAY APPLY TO THESE PRODUCTS AND 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
