Mortgage bulletin for week commencing 24 November

Posted 24 November 2014

Leeds Building Society has unveiled new Interest Only Fee Assisted two-year fixed-rate and five-year fixed-rate mortgages available up to 50% loan-to-value (LTV) at rates of 2.49% and 3.19% respectively. These products offer free standard valuations up to £335 and fees-assisted legal services for standard remortgages. All the offers have fees of £199 and customers can make 10% capital repayments each year without penalty.

The Society is also launching a fee assisted two-year discount variable rate Interest Only deal up to 50% LTV, currently at 2.30%.  Again, this comes with a free standard valuation up to £335 and fees assisted legal services for standard remortgages.    

Skipton Building Society has lowered interest rates on all of its core residential two-year fixed-rate mortgages from 50% LTV to 85% LTV. The Society’s revised range for purchasers includes a fee-free two-year fixed rate to 60% LTV at 1.95% (was 2.34%) and a fee-free two-year fixed-rate to 80% LTV at 2.59% (was 2.99%). For those wishing to remortgage, the fee-free range includes a two-year fixed-rate to 50% LTV at 2.01% (was 2.18%), a two-year fixed-rate to 70% LTV at 2.24% (was 2.39%) and a two-year fixed-rate to 75% LTV at 2.29% (was 2.85%). For those who would rather choose fees and a lower interest rate, home purchase products include a two-year fixed rate to 85% LTV at 2.64% (was 2.98%) with a fee of £1,995, and remortgage products include a two-year fixed rate to 60% LTV at 1.85% (was 2.04%) with a fee of £995.

Halifax has a range of offers for remortgage customers looking for loans up to 60% LTV. The lender's two-year fixed-rate mortgage on loans up to £199,999 is currently 2.29% with no product fee or 2.09% with a product fee of £495, while similar deals fixed for five years include a rate of 3.39% with no fee and 3.19% with a fee of £495. All products revert to the lenders variable rate after the fixed term, currently 3.99%.

Nationwide is offering free standard valuation fees and free standard legals or £250 cashback for remortgagers. Deals on loans up to 60% LTV include a two-year tracker at Bank of England base rate (Base) +0.99% with a fee of £999 or Base+1.34% and no fee. The two-year fixed rate is currently 1.84% with a fee of £999 or 2.24% with no fee while their five-year fixed-rate product is 2.84% with a fee of £999 or 3.04% with no fee. For those looking for longer-term certainty, Nationwide is offering a 10-year fixed-rate product at 3.49% with a fee of £999 or 3.59% with no fee. All products revert to the lender's variable rate after the fixed period, currently 3.99%.

First Direct has a range of remortgage deals for loans up to 65%, with a low revert rate of 3.69% after the fixed-rate or discounted term. Products include a two-year fixed-rate mortgage at 1.39% with booking fee of £1,950, or 1.79% with reduced fee of £950 or 2.19% with no fee. Five-year fixed rates at 65% LTV include 2.73% with a booking fee of £1.450, or 2.98% with a fee of £950 and 3.29% with no fee. First Direct's standard tracker mortgage is currently 1.99% (Base+1.49%) on loans up to £1m with a fee of £950 or 2.39% (Base+1.9%) with no fee.

Virgin Money range for remortgagers includes a two-year tracker up to 60% LTV at 1.49% (Base+0.94%) with a fee of £995 or 2.14% (Base+1.64%) with no fee. Virgin's fixed-rate deals at 60% LTV include a two-year fixed-rate at 2.14% with a fee of £995 or 2.69% with no fee and a five-year fixed-rate mortgage at 2.92% with a fee of £995 or 3.49% with no fee. All of these deals from Virgin Money revert to the lender's variable rate after the fixed period, currently 4.79%.

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