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.
Market Commentary
The biggest news this week is the Bank of England (BOE) increasing the base rate for 11th time in the last 12 months, now currently at 4.25% to control inflation that was reported to have increased in the last month. SONIA/SWAP rates in our latest blog have remained static and therefore the increase in BoE hasn’t had an impact on mortgage rates, with a number of lenders including Nationwide reducing rates this week.
Across the best buy tables mortgage rates are ranging from 3.94% on a 5-year fixed with Nationwide to Remortgage at 60% loan to value, up to 5.30% First Time Buyer 95% mortgage with Skipton.
Generally in the market, lots of properties still being listed despite negativity in the market regarding increasing rates and reducing house prices there are still consumers looking to buy their first home and move properties. Often not reported is the ‘no change in fixed rates despite the increase in BoE, whereas in fact the mortgage market has been relatively stable in terms of rates since December/January.
First Time Buyers
| Loan to Value | Rate Type | Rate | Lender |
| 95% | 2-year fixed | 5.30% | Skipton BS |
| 90% | 2-year fixed | 4.89% | HSBC |
| 95% | 5-year fixed | 4.75% | Skipton |
| 90% | 5-year fixed | 4.49% | HSBC |
Remortgage
| Loan to Value | Rate Type | Rate | Lender |
| 75% | 2-year fixed | 4.34% | Nationwide |
| 60% | 2-year fixed | 4.29% | Nationwide |
| 75% | 5-year fixed | 3.99% | Nationwide |
| 60% | 5-year fixed | 3.94% | Nationwide |
| 75% | 2-year tracker | 4.49% | Nationwide |
| 60% | 2-year tracker | 4.39% | NatWest |
Large Loans Purchase over £1m
| Loan to Value | Rate Type | Rate | Lender |
| 85% | 2-year fixed | 4.66% | Halifax |
| 75% | 2-year fixed | 4.43% | Halifax |
| 85% | 2-year tracker | 4.79% | NatWest |
| 75% | 2-year tracker | 4.54% | NatWest |
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.
