Mortgage bulletin for week commencing Monday 20 January

Posted 20 January 2014

There are many reasons for remortgaging. It may be to get a better rate with a different lender or because of a change in personal circumstances. Remortgaging is also a way to raise additional finance to build an extension or home renovation, or to invest in a second home.

Nationwide is offering 85% loan-to-value (LTV) remortgages with free standard legal advice when you use Nationwide's own licensed conveyor, or £250 cashback, and free standard valuation fees. These offers are available online, over the phone or in-branch. Offers include two-year fixed rate of 3.24%, a three-year fixed rate of 3.54% of five-year fixed rate at 4.24%. All of these deals are over a 20-year term and have fees of £999.

Clydesdale Bank has a 60% LTV deal, fixed for two years at 2.69% or 3.59% fixed for five years. The mortgage offers comes with no arrangement fee and £500 cashback. A similar two-year fixed-rate deal at 90% LTV is currently 4.29% or 4.59% fixed for five years.

Santander has a number of deals available through intermediaries. Its two-year fixed-rate is 2.89% up to 85% LTV with free standard valuation up to a priority value of £2.5m and free standard legal work and £995 product fees, or 3.59% with no product fee.

Tesco Bank is offering loans of up to 85% LTV to remortgagers at 2.79% fixed for two years with fees of £1,495 or 4.19% fixed for five years with fees of £195.

HSBC is offering a 60% LTV two-year fixed-rate special deal to direct customers at 1.49% with £1,999 booking fee, or five-year fixed rate special at 60% LTV of 2.99% with £999 fee, for loans up to £500,000.

NatWest has a two-year tracker at base rate plus 1.29%, currently 1.79%, with £995 product fee, free standard valuation and free legal fees. The same product is available with no product fee at 2.39% (NatWest Bank Base-rate plus 1.89%). Both deals are available to direct remortgage customers and come with an option to switch to a fixed rate from three months after completion.

Meanwhile, two lenders have added products for the Help to Buy mortgage scheme to help first-time buyers get that first important step on the property ladder.

NatWest Intermediary Solutions is now offering a two-year fixed-rate mortgage at 4.99% with a maximum LTV of 95%, and five-year fixed-rate 95% LTV deal at 5.49%, both with zero product fee.

Barclays has announced details of two products, available from tomorrow (Tuesday 21 January). For loans of up to 95% LTV with a maximum value of £570,000, the three-year fixed-rate is 5.35%, while the five-year fixed-rate is 5.49%.

Andy Gray, managing director of mortgages for Barclays, says, "We're pleased to be joining the government's Help to Buy mortgage guarantee scheme and supporting first-time buyers and home movers get on, or move up, the housing ladder. This builds on our existing and on-going participation under the Help to Buy equity scheme. We have two products and these have been developed to offer extra customer choice for those with deposits from 5%."

Click here to find out more about how Whathouse.co.uk can help you find the right mortgage.

 

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