Top of our fixed rate charts is a two-year fixed rate mortgage from Barclays Mortgage, offering a rate of 1.24% (3.8% APRC) fixed until 31 October 2021, before reverting to a variable rate of 4.24%. With a product fee of £999 the maximum LTV of 60% is likely to make this popular with those looking to remortgage – although the deal is open to all borrowers – and it applies to loans of between £5,000 up to £2 million. The incentives package includes free valuation for all, while remortgagers also have a choice of free legal fees or £200 cashback. Overpayments are permitted.
Second is the two year fixed rate deal from HSBC. Offering a rate of 1.24% (3.7% APRC) fixed until 31 January 2022, this is a mortgage for all borrowers seeking a maximum LTV of 60% and a loan of between £10,000 and £5 million. At the end of the fixed rate term, this reverts to a rate of 4.19% variable for the remainder of the term. Overpayments are permitted and the product fee is £999. Incentives include free valuation, and those remortgaging also get free legal fees.
Next up, is the Post Office Money’s two year fixed rate mortgage offering 1.27% (4.2% APRC) fixed until 30 November 2021, before reverting to 4.74% variable for the remainder of the term. This two-year deal is for borrowers looking for a 60% LTV and who require a loan in excess of £25,001, while the maximum loan is dependent on LTV. The product fees are £1,495 and there is also a deferred arrangement fee of £195 payable for an early exit from this deal. It includes the incentive of free valuation and overpayments are permitted, but applicants must an income of at least £20,000.
NatWest has a mortgage deal with a rate of 1.28% (3.8% APRC) fixed to 31 January 2022 before reverting to 4.24% variable for the rest of the term . This deal is available to first and second-time buyers who have a deposit or equity of 40% or more able to apply. The minimum loan available is £25,000 with a ceiling of £2 million. The product fees of £995 are fractionally less than the lowest-rate Barclays offer with £250 cashback available and overpayments permitted.
The restriction to first and second-time buyers only is also carried by the Royal Bank of Scotland’s fixed mortgage deal of 1.28% (3.8% APRC) fixed to 31 January 2022, before reverting to 4.24% variable for the remainder of the term. With a maximum LTV of 60%, this deal is available to house purchase customers seeking a loan of between £25,000 and £2 million. Once again, the product fees are £995, overpayments are allowed and it includes the incentives of £250 cashback.
The final deal in our six of the best fixed rate mortgages roundup is Santander’s offer of 1.28% (3.6% APRC) fixed until 02 December 2021 before reverting to a rate of 4.00% variable. The product fee is £999 and once again, this product is only available for first and second-time buyers who have a deposit or equity of 40% and need a loan of between £6,000 and £1 million. The incentives package consists of free valuation up to a maximum of £1,190 for properties under £2.5 million and £250 cashback. Overpayments are, as expected, permitted.
*Information correct as of 17.09.19 – for the most up-to-date deals, please visit our mortgage comparison charts here .