Best Fixed Rate Mortgage Offers This Month

Will mortgage costs start to rise in 2017? Should you sign up to a fixed rate deal now? This article previously spoke about record low mortgage offers with HSBC offering a record low 0.99% 2 year fixed rate deal. HSBC have now pulled that deal from the market due to rising costs. The worry for borrowers is that other lenders will follow HSBC’s lead and start to increase borrowing rates as well. 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 best 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.

 

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Fixed Rate Mortgages

1) 2 Year Fixed

40% deposit


First Direct first direct logo

Has a two-year fix at 1.09% with £1,677 in fee’s. Monthly repayments would be £571.44 with a total first year cost of £7,695.78 including fees. This offer is only available direct from First Direct or via a broker.


Chelsea Building Societychealsea logo

Has a 25 month fix at 1.17% with £2,020 in fee’s. Monthly repayments would be £577 with a total first year cost of £7,890 including fees. This offer is only available direct from Chelsea Building Society.


Leeds Building Society leeds

1.19% fixed for 2 years with £1,534 in fee’s. Monthly repayments of £578 and a first year total cost of £7,710 including fee’s. This offer is only available direct from Leeds Building Society or via a broker.


TSBtsb

1.24% fixed for 2 years with £995 in fee’s.Monthly repayments of £582 and a first year total cost of £7,370 including fee’s. This offer is only available direct from TSB Bank PLC or via a broker.


10% deposit


Chelsea Building Societychealsea logo

1.95% fixed for 25 months. £2,020 in fee’s. Monthly repayments of £948 for 25 months and a first year total cost of £12,350 including fees. This offer is only available direct from Chelsea Building Society or via a broker.


Co-Op Bank coop bank

The Cooperative Bank a 25 month fix at 1.94% with £1,579 in fees. Monthly repayments would be £947 for 25 months with a total first year cost of £12,050 including fees. This offer is only available direct from The Cooperative Bank.


The Nottingham
The-Nottingham

Has a two-year fix at 1.99%. £1,029 in fees. Monthly repayments would be £953 with a total first year cost of £11,890 including fees. This offer is only available direct from Nottingham or via a broker.


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2) 3 Year Fixed

40% deposit


Chelsea Building Society chealsea logo

Has a 37 month fix at 1.54%. £1,320 in fees. Monthly repayments would be £603 for 37 months with a total first year cost of £7,660 including fees.  This offer is only available direct from Chelsea or via a broker.


N+Pn&p

1.54% fixed for 3 years. £1,855 in fee’s. Monthly repayments of £603 and a first year total cost of £7,850 including fees. This offer is only available direct from Norwich & Peterborough Building Society.


Yorkshire Building Society yorkshire

1.63% fixed for 37 months. £1,230 in fee’s. Monthly repayments of £609 for 37 months and a first year total cost of £7,710 including fees. This offer is only available direct from Yorkshire Building Society.


10% deposit


Hinckley & Rugby Building Society h&r

2.49% fixed for 3 years. £1,294 in fee’s. Monthly repayments of £1,008 and a first year total cost of £12,530 including fees. This offer is only available direct from Hinckley & Rugby Building Society or via a broker.


Accord accord

2.52% fixed for 40 months. £1,230 in fee’s. Monthly repayments of £1,012 for 40 months and a first year total cost of £12,510 including fees. This product is only available via authorised brokers.


Virgin Money virgin money

2.58% fixed for 39 months with £1,209 in fee’s. Monthly repayments of £1,018 and a first year total cost of £12,440 including fees.  This offer is only available direct from Virgin or via a broker.


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3) 5 Year Fixed

40% deposit


Woolwich woolwich-logo

Woolwich Building Society has a five-year fix at 1.83%. £1,534 in fees. Monthly repayments would be £623 with a total first year cost of £7,770 including fees.


Tesco Bank tesco bank

Tesco Bank has a 62 month fix at 1.89%. £1,345 in fees. Monthly repayments would be £628 with a total first year cost of £7,790 including fees.

 


Leeds Building Society leeds

1.90% fixed for 62 months with £1,394 in fee’s. Monthly repayments of £629 and a first year total cost of £7,810 including fee’s. This offer is only available direct from Leeds Building Society or via a broker.


10% deposit


The Nottingham The-Nottingham

2.79% fixed for 5 years. £1,029 in fee’s. Monthly repayments of £1,043 and a first year total cost of £12,720 including fees. This offer is only available direct from The Nottingham or via a broker.


Skipton skipton-building-society-logo

Skipton Building Society as a five-year fix at 2.82%. £2,001 in fees. Monthly repayments would be £1,046 with a total first year cost of £12,930 including fees. This offer is only available direct from Skipton or via a broker.


Yorkshire Building Society yorkshire

2.88% fixed for 5 years. £1,230 in fee’s. Monthly repayments of £1,053 and a first year total cost of £12,880 including fees. This offer is only available direct from Yorkshire Building Society.


 

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