A combination of rising house prices, mortgage lenders withdrawing deals for those with a 10% or less deposit, and savings rates at a historic low, resulted in potential first-time buyers facing a highly challenging market last year
The lowest rate in the two year remortgage chart came from Lloyds Bank, which offers 1.17% (3.3% APRC) fixed until 28 February 2023, after which it reverts to 3.59% variable. This deal is available to those looking for a 60% loan-to-value (LTV) and charges £999 in product fees. It comes with the incentive of free valuation, no legal fees and £200 cashback for those who have a Club Lloyds Current Account.
Both Leeds Building Society and Coventry Building Society had the lowest three year fixed remortgage rates this week. Leeds Building Society offers 1.35% (4.2% APRC) fixed until 29 February 2024 and then reverts to 4.04% variable. This deal is available at a 60% LTV and charges £999 in product fees. It comes with the incentive of free valuation (up to a maximum of £999) and help towards costs. Coventry Building Society offers 1.35% (3.7% APRC) fixed until 31 March 2024, which then reverts to 3.99% variable. This deal is available at a 65% LTV. It charges £999 in product fee