Our weekly guide on Mortgage Best Buys. 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 Best Buys
Nationwide Building Society reported annual house prices slowed to 1.1%, from 2.8% in December with January seeing a further decline with prices now 3.20% below August peak. It was also reported positive signs in the Mortgage Market with mortgage rates normalising and the house price drop largely connected to the sharp decline in Mortgage Applications in Q4 due to rising interest rates.
Further positivity sees Virgin Money release a 5-year fixed rate at 3.99% and I’d expect to lenders competing for price in the coming weeks.
First Time Buyers
| Loan to Value | Rate Type | Rate | Lender |
| 95% | 2-year fixed | 5.44% | Nationwide |
| 90% | 2-year fixed | 5.00% | Coventry |
| 95% | 5-year fixed | 5.03% | Skipton |
| 90% | 5-year fixed | 4.53% | Skipton |
Remortgage
| Loan to Value | Rate Type | Rate | Lender |
| 85% | 2-year fixed | 4.74% | TSB |
| 75% | 2-year fixed | 4.52% | Coventry |
| 60% | 2-year fixed | 4.47% | Coventry |
| 85% | 5-year fixed | 4.39% | HSBC |
| 75% | 5-year fixed | 4.19% | HSBC |
| 60% | 5-year fixed | 3.99% | Virgin Money |
| 85% | 2-year tracker | 4.46% | Barclays |
| 75% | 2-year tracker | 4.36% | Barclays |
| 60% | 2-year tracker | 4.26% | Barclays |
Large Loans over £750k
| Loan to Value | Rate Type | Rate | Lender |
| 85% | 2-year fixed | 4.74% | TSB |
| 75% | 2-year fixed | 4.52% | Coventry |
| 85% | 2-year tracker | 4.46% | Barclays |
| 75% | 2-year tracker | 4.36% | Barclays |
ALL MORTGAGE RATES ARE SUBJECT TO CREDIT STATUS, INCOME AND AFFORDABILITY. ARRANGEMENT FEES AND EARLY REPAYMENT CHARGES MAY APPLY TO THESE PRODUCTS, PLEASE CONTACT AN ADVISER FOR A RECOMMENDATION.
YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
