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Mortgage Best Buys – April 2019

As expected the Bank of England Monetary Policy Committee voted to retain the Bank of England  base rate at the present level of 0.75%pa.

The mortgage market remains competitive, some lenders have in the past week reduced their interest rates and arrangement fees. The level of lenders’ enquiries remains steady.

A few schemes which remain and are worth noting:

  • 2yr fixed at 60% LTV – 1.44% pa, with a reduced lenders arrangement fee £999
  • 5yr fixed offset at 60% LTV – 1.99% pa, with a lenders arrangement fee £999
  • 5yr fixed at 60% LTV – 1.84% pa, with a reduced lenders arrangement fee £999

*LTV = loan to value

The above content does not represent a personal recommendation. If you have any questions on the buy to let sector reforms, rates or the mortgage market in general, our mortgage team is here to help. Please contact the team on 020 7444 4030 or by email.

Your home is at risk of repossession if you do not maintain mortgage payments.

Residential Repayment – although a number of these deals can be done on an Interest Only basis up to 50%
LTVs Rate Arrangement Fee ERC
60% 2 year Fixed – 1.44% to 30/04/2021 £999 YES
3 year Fixed – 1.63% to 30/04/2022 £999 YES
5 year Fixed – 1.84% to 02/07/2024 £999 YES
Offset 2 year Tracker – 1.69% (BOE + 0.94%) £1,749 YES
2 year Tracker – 1.49% (BOE + 0.66%) £1,999 NONE
2 year Offset Fixed – 1.62% to 31/05/2021 £999 YES
5 year Offset Fixed – 1.99% to 31/05/2024 £999 YES
65% 2 year Tracker – 1.64% (BOE + 0.89%) £995 NONE
Lifetime Tracker/Variable – 2.49% £1,999 NONE
75% 2 year Fixed – 1.54 to 01/07/2021 £1,499 YES
3 year Fixed – 1.79% to 30/04/2022 £999 YES
5 year Fixed – 2.04% to 30/04/2024 £999 YES

 

Residential – Interest Only – sale of property as a repayment vehicle
LTVs Rate Arrangement Fee ERC
75% all interest only 2 year Fixed – 1.57% to 30/06/2021 £1,499 YES
5 year Fixed – 1.90% 30/06/2024 £1,499 YES
Offset Tracker 2 year Tracker – 1.69% £1,749 YES

 

High LTV 1st Time Buyers – Repayment
LTVs Rate Arrangement Fee ERC
85% 2 year Tracker – 1.52% (Base + 0.77%) £999 YES
2 year Fixed – 1.57% 30/06/2021 £1,499 YES
5 year Fixed – 2.04% to 30/06/2024 £1,499 YES
95% 3 year Fixed – 3.89% to 31/01/2022 £0 YES

 

Buy to Let Rates *Average rental cover 145% at 5.5%.
LTVs Rate Arrangement Fee ERC
60% 2 year Fixed – 1.52% to 30/04/2021 £1,795 YES
3 year Fixed – 1.83% to 01/07/2022 £1,995 YES
5 year Fixed – 2.04% to 01/07/2024 £1,995 YES
2 year Tracker – 1.49% (BOE + 0.74%) £1,995 YES
75% 2 year Fixed – 1.73% to 01/07/2021 £1,499 YES
3 year Fixed – 2.33% to 01/07/2022 £995 YES
5 year Fixed – 2.36% to 31/08/2024 £1,995 YES
2 year Tracker – 1.69% (Base + 0.94%) £950 YES

 

Second Charge, Bridging Finance, Equity Release Loans available – rates upon request
* Some lenders are still prepared to take a more flexible view, with a lower rental cover and stress rate. However, the rates may increase commensurately.
ERC – Early Repayment Charges – if it applies, this is based on individual lenders criteria.
image copy of tables detailed above for mobile view