The lowest fixed rate mortgage deals – what’s on offer

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Figures from the Yorkshire Building Society show that £35 billion of fixed rate mortgage deals is due to come to an end in September and October. So if you’re after a new mortgage, find out who’s offering the lowest fixed rate mortgage deals and what’s on offer.

The lowest fixed rate mortgage deals

I’ve looked at the lowest fixed rate two, five and ten year mortgage deals with a, where available, 60%, 75% and 80% or 90% loan to value. Here is a round up of the top deals:

Lowest two year fixed rate mortgages – up to 60% loan to value

Yorkshire Building Society: two year fixed rate mortgage is charging 0.99% until 30/11/19. It’s available on mortgages up to 60% loan to value. There’s an arrangement fee of £1,495 and a valuation fee of £235. If you don’t remortgage at the end of the deal you’ll pay the standard variable rate, which is currently 4.74%.

SAVVY TIP: The arrangement fee is a fee you pay for the mortgage to be sorted out. It is normally paid when you complete on the house purchase or remortgage, but sometimes part of the fee is asked for earlier. You can normally get a refund of this if the mortgage doesn’t go through. The valuation fee is for the mortgage lender to value your property.

Sainsbury’s Bank: two year fixed rate mortgage charging 1.09% until 31/10/19. It’s available on mortgages up to 60% loan to value. There’s an arrangement fee of £995. If you don’t remortgage at the end of the deal you’ll pay the standard variable, which is currently 3.99%.

Post Office Money: two year fixed rate mortgage charging 1.12% until 31/10/19. It’s available on mortgages up to 60% loan to value. There’s an arrangement fee of £1,495 and a valuation fee of £310. If you don’t remortgage at the end of the deal you’ll pay the standard variable, which is currently 4.24%.

Lowest two year fixed rate mortgages – up to 75% loan to value

The Co-operative Bank: two year fixed rate mortgage charging 1.14% until 30/11/19. It’s available up to 75% loan to value. There’s an arrangement fee of £1,349, a booking fee of £150 and a valuation fee of £284. If you don’t remortgage at the end of the deal you’ll pay the standard variable rate, which is currently 4.49%.

SAVVY TIP: A booking fee is different to an arrangement fee. A booking fee is used to secure the funds for a fixed rate deal. You may be asked to pay this upfront (although it may be something you can pay when the mortgage goes through). Your lender may not refund it if you don’t go ahead with the mortgage – so it’s worth checking before you apply.

Yorkshire Building Society: two year fixed rate mortgage charging 1.14% until 30/11/19. It’s available on mortgages up to 75% loan to value. There’s an arrangement fee of £995 and a valuation fee of £235. If you don’t remortgage at the end of the deal you’ll pay the standard variable rate, which is currently 4.74%.

Leeds Building Society: two year fixed rate mortgage charging 1.15% until 31/10/19. It’s available on mortgages up to 75% loan to value. There’s an arrangement fee of £1,999. If you don’t remortgage at the end of the deal you’ll pay the standard variable rate, which is currently 5.44%.

Lowest two year fixed rate mortgages – up to 80% loan to value

Bank of Ireland: two year fixed rate mortgage charging 1.23% until 31/12/19. It’s available on mortgages up to 80% loan to value. There’s an arrangement fee of £995. If you don’t remortgage at the end of the deal you’ll pay the standard variable rate, which is currently 4.24%.

HSBC: two year fixed rate mortgage charging 1.24% until 31/12/19. It’s available on mortgages up to 80% loan to value. There’s a booking fee of £99, and arrangement fee of £900 and a valuation fee of £197. If you don’t remortgage at the end of the deal you’ll pay the standard variable rate, which is currently 3.69%.

First Direct: two year fixed rate mortgage charging 1.24% on mortgages up to 80% loan to value. There’s a booking fee of £1,450 and a valuation fee of £232. If you don’t remortgage at the end of the deal you’ll pay the standard variable rate, which is currently 3.69%.

Sainsbury’s Bank: two year fixed rate mortgage charging 1.24% until 31/10/19. It’s available on mortgages up to 80% loan to value. There’s an arrangement fee of £995. If you don’t remortgage at the end of the deal you’ll pay the standard variable rate, which is currently 3.99%.

Lowest two year fixed rate mortgages – up to 90% loan to value

Platform Loans: two year fixed rate mortgage charging 1.79% until 30/11/19. It’s available up to 90% loan to value.There’s an arrangement fee of £1,499, but you get cashback of £250, bringing the fee total to £1,249. There’s a free valuation and basic legals. If you don’t remortgage at the end of the deal you’ll pay the standard variable rate, which is currently 4.74%.

SAVVY TIP: Platform Loans is owned by the Co-operative Bank. Its mortgages are only available via mortgage brokers and financial advisers.

The Co-operative Bank: two year fixed rate mortgage charging 1.79% until 30/11/19. It’s available up to 90% loan to value. There’s an arrangement fee of £1,349 and a booking fee of £150. If you don’t remortgage at the end of the deal you’ll pay the standard variable rate, which is currently 4.49%.

Lowest five year fixed rate mortgages – up to 60% loan to value

You can get a five year fixed rate mortgage charging 1.59%. The fees are almost £1,200 but, as it’s a five year deal, it’s only £236 a year, which isn’t too bad.

Here are some of the five year fixed rate mortgage best buys:

Digital Mortgages (by Atom Bank): five year fixed rate mortgage charging 1.59% until 31/12/22. It’s available on mortgages up to 60% loan to value. There’s an arrangement fee of £900 and a valuation fee of £280. If you don’t remortgage at the end of the deal, you’ll pay a standard variable rate, which is currently 3.75%.

HSBC: five year fixed rate mortgage charging 1.59% until 31/12/22. It’s available on mortgages up to 60% loan to value. There’s a booking fee of £99, an arrangement fee of £900 and a valuation fee of £197. If you don’t remortgage at the end of the deal you’ll pay the standard variable rate, which is currently 3.69%.

Lowest five year fixed rate mortgages – up to 75% loan to value

Digital Mortgages (by Atom Bank): five year fixed rate mortgage charging 1.74% until 30/11/22. It’s available up to 75% loan to value. There’s an arrangement fee of £900 and a valuation fee of £280. If you don’t remortgage at the end of the deal, you’ll pay the standard variable rate, which is currently 3.75%.

HSBC: five year fixed rate mortgage charging 1.74% until 31/12/22. It’s available on mortgages up to 75% loan to value. There’s a booking fee of £99, an arrangement fee of £900 and a valuation fee of £197. If you don’t remortgage at the end of the deal you’ll pay the standard variable rate, which is currently 3.69%.

The Co-operative Bank: five year fixed rate mortgage charging 1.74% until 30/11/22. It’s available up to 75% loan to value. There’s an arrangement fee of £1,349 and a booking fee of £150. If you don’t remortgage at the end of the deal you’ll pay the standard variable rate, which is currently 4.49%.

Lowest five year fixed rate mortgages – up to 80% loan to value

Digital Mortgages (by Atom Bank): five year fixed rate mortgage charging 1.89% until 30/11/22. It’s available up to 80% loan to value. There’s an arrangement fee of £900 and a valuation fee of £280. If you don’t remortgage at the end of the deal you’ll pay the standard variable rate, which is currently 3.75%.

HSBC: five year fixed rate mortgage charging 1.94% until 31/12/22. It’s available on mortgages up to 60% loan to value. There’s a booking fee of £99, an arrangement fee of £900 and a valuation fee of £197. If you don’t remortgage at the end of the deal you’ll pay the standard variable rate, which is currently 3.69%.

Tesco Bank: five year fixed rate mortgage charging 1.94% until 31/11/19. It’s available on mortgages up to 90% loan to value. There’s an arrangement fee of £995. If you don’t remortgage at the end of the deal you’ll pay the standard variable rate, which is currently 3.89%.

Lowest five year fixed rate mortgages – up to 90% loan to value

Digital Mortgages (by Atom Bank): five year fixed rate mortgage charging 2.39% until 30/11/22. It’s available up to 90% loan to value. There’s an arrangement fee of £900. If you don’t remortgage at the end of the deal, you’ll pay the standard variable rate, which is currently 3.75%.

SAVVY TIP: There’s also a fee-free deal from Atom Bank charging 2.45%.

The Co-operative Bank: two year fixed rate mortgage charging 2.45% until 30/11/22. It’s available up to 90% loan to value. There’s an arrangement fee of £1,349 and a booking fee of £150. If you don’t remortgage at the end of the deal you’ll pay the standard variable rate, which is currently 4.49%.

Lowest ten year fixed rate mortgage

You can get a ten year fixed rate mortgage charging 2.49% and the fees are only £35. Here are some of the ten year fixed rate mortgage best buys:

First Direct: ten year fixed rate mortgage charging 2.49%. It’s available up to 60% loan to value. There’s a valuation fee of £35. If you don’t remortgage at the end of the deal you’ll pay the standard variable rate, which is currently 3.69%.

First Direct: ten year fixed rate mortgage charging 2.64%. It’s available up to 75% loan to value. There’s a valuation fee of £35. If you don’t remortgage at the end of the deal you’ll pay the standard variable rate, which is currently 3.69%.

Nationwide: ten year fixed rate mortgage charging 3.89%. It’s available up to 90% loan to value. There’s an arrangement fee of £999. If you don’t remortgage at the end of the deal you’ll pay the standard variable rate, which is currently 3.74%.

Useful links: 

I used mortgage broker London & Country to compile this list.

Related articles:

Getting the best remortgage deal; fees, charges and rates that matter

How to find a good mortgage broker

Paying off your mortgage early — how to get the best results when overpaying your mortgage

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