Fixed Rate Mortgage Offers This Month

Will mortgage costs start to rise in 2017? It certainly looks that way with competition between lenders getting more intense and borrowers benefiting from the fierce competition. All the messages coming from The Bank of England suggest mortgage rates will start to increase sooner rather than later. Should you sign up to a fixed rate deal now? It seems that more people than ever are switching mortgages with re-mortgaging in London at its highest levels since 2009. Average mortgage rates are still at all-time lows but there is evidence that costs are starting to creep up. With this in mind, now might be the right time to switch to a fixed rate deal.

In this article we review the top fixed-rate mortgages available in the market to first-time buyers (10% deposit) and those remortgaging (40% deposit). For the purpose of calculating repayments and costs we’ve assumed a house value of £250,000 and a 25-year mortgage.




 

Fixed Mortgages

1) 2 Year Fixed

40% deposit


Yorkshire Building Societyyorkshire

 

Yorkshire BS is offering a 25-month fixed rate of 1.09% with £495 in fees/charges. Monthly repayments will be £571 for 25 months with first-year costs totalling of £6,970 including fees. This offer is only available direct from Yorkshire Building Society.


Santander

 

Santander is offering a 26-month fixed rate of 1.39% with only £35 in fees/charges. Monthly repayments will be £592 for 26 months with first-year costs totalling of £7,010 including fees. This offer is available direct from Santander of via a broker.


barclays logoBarclays

 

1.49% fixed for 24 months with only £35 in fees/charges. Monthly repayments will be £599 for 24 months and total first-year costs of £7,100 including fees. This offer is available direct from Barclays or via a broker.


Accordaccord

 

Accord offers a 1.42% fixed for 26-months with £495 in fees/charges. Monthly repayments will be £594 for 26 months and a first-year total cost of £7,130 including fees. This offer is available direct from First Direct or via a broker.


10% deposit


Hinkley & Rugby Building Society

 

2.14% fixed for 24 months with zero fees or charges. Monthly repayments of £968 for 24 months and a first-year total cost of £11,620 including fees. This offer is available direct from H&R or via a broker.


The Nottingham

 

The Nottingham offers a 26-month fixed rate of 2.20% with zero fees or charges. Monthly repayments will be £975 for 26 months with a total first-year cost of £11,700 including fees. This offer is only available direct from The Nottingham or via a broker.


hsbc-logoHSBC

HSBC is offering a 26-month fixed rate of 1.94% with £779 in fees/charges. Monthly repayments will be £947 for 26 months with a total first-year cost of £11,720including fees. This offer is only available direct from HSBC.


recommended searches

 

2) 3 Year Fixed

40% deposit


hsbc-logoHSBC

1.39% fixed for 38 months. £779 in set up fees/charges. Monthly repayments of £592 for 38 months and total first-year costs of £7,350 including fees. This offer is only available direct from HSBC Bank.


accordAccord

1.48% fixed for 38 months with no fees or charges. Monthly repayments of £621 for 38 months and total first-year costs of £7,370 including fees. This offer is only available via a broker. Click “make an enquiry” above to find out more.


Nationwide

 

Has a 36-month fix at 1.94% with only £20 in fees/charges. Monthly repayments will be £631 for 36 months with a total first-year cost of £7,420 including fees.  This offer is available direct from Nationwide or via a broker.


10% deposit


Principality

 

2.45% fixed for 36 months with only £25 in fee’s/charges. Monthly repayments of £1003 for 36 months and total costs in the first year of £12,040 including fees. This offer is available direct from Principality or via a broker.


hsbc-logoHSBC

 

2.29% fixed for 38 months. £779 in fees/charges. Monthly repayments of £1,008 for 36 months and total first-year costs of £12,070 including fees. This offer is only available direct from HSBC.


The West Bromaccord

 

2.74% fixed for 36 months with only £30 in fees and charges. Monthly repayments of £1,037 for 36 months and total first-year costs of £12,120 including fees. This product is available direct from West Bromwich or via a broker.


recommended searches

 

3) 5 Year Fixed

40% deposit


hsbc-logoHSBC

 

HSBC offers a 62-month fix at 1.84% with no fee’s or charges. Monthly repayments will be £624 for 62 months with a total first-year cost of £7,490 including fees. This offer is only available direct from HSBC.

 


barclays logoBarclays

 

Barclays has a 60-month fix at 1.65%. £1,034 in fees/charges. Monthly repayments will be £610 for 60 months with a total first-year cost of £7,530 including fees. This offer is available direct from Barclays or via a broker.


accordAccord

 

1.82% fixed for 62 months with £995 in fees/charges. Monthly repayments of £622 and total first-year costs of £7,560 including fees. This offer is only available via a broker like our partners MCB Financial Services.


10% deposit


Yorkshire Building Societyyorkshire

 

2.49% fixed for 61-months. £1,230 in fees/charges. Monthly repayments of £1,008 for 61 months and total first-year costs of £12,330 including fees. This offer is available direct from Yorkshire BS.


Leeds Building Society

 

Leeds BS offers a 62-month fix at 2.59% with £1,034 in fees/charges. Monthly repayments will be £1,019 for 62 months with a total first-year cost of £12,420 including fees. This offer is available direct from Leeds BS of via a broker.


Santander

Santander has a 62-month fixed rate at 2.74% with £1,034 in fees/charges. Monthly repayments will be £1,037 for 62 months with a total first-year cost of £12,590 including fees. This offer is available direct from Santander or via a broker.





 

Disclaimer: TheMoneyDaily’s service is not intended to be, nor should it be construed as financial advice. We help our readers make informed decisions and can introduce you to comparison services and provide impartial information and guides. Where appropriate, we may introduce FCA authorised partners who can provide services relating to financial products.
Top

Pin It on Pinterest