Mortgage bulletin for week commencing 5 January 

Posted 6 January 2015

Leeds Building Society has re-launched its full mortgage range. New deals include a three-year fixed-rate mortgage at 2.39% up to 75% loan-to-value (LTV) with an £800 fee and a three-year, fixed-rate, fees-assisted mortgage at 2.49% up to 65% LTV with no fee and free standard valuation up to £560 and fees assisted legal services for standard remortgages. There is also a new five-year fixed-rate mortgage at 2.64%, up to 65% LTV with an £800 fee.

Rate reductions also apply to tracker mortgages, with an 85% LTV two-year base rate tracker (BRT) mortgage cut to 2.20% from 2.69%, with an £800 fee and a  two-year BRT fees-assisted mortgage cut to 2.55% from 2.99%, up to 85% LTV with no fee and free standard valuation up to £560 and fees assisted legal services for standard remortgages. A new two-year BRT at 2.25%, up to 80% LTV comes with no fee and free standard valuation up to £560 and fees assisted legal services for standard remortgages.

In addition, the Society has removed the £199 booking fee across its entire range for a limited time and increased the benefit of the free valuation offered as part of its fees-assisted deals from £335 to £560, which will now cover properties worth up to £500,000 (previously £200,000).

Clydesdale and Yorkshire Banks have launched a £1,000 cashback mortgage offer, available across a number of new and existing fixed-rate and variable-rate mortgages for first-time buyers and those moving home. Deals offering the new £1,000 cashback include a two-year residential fixed-rate mortgage at up to 75% LTV at 2.79% with no arrangement fee and a new five-year fixed-rate residential mortgage at 75% LTV, again with no arrangement fee. Higher five-year fixed-rate LTVs are available and include an 85% LTV product at 3.49% and 90% LTV at 3.99%. Both five-year deals have application fees of £999 for new customers and £499 for the Banks' existing mortgage customers. The £1,000 cashback offer runs until 28 February 2015 and is available through branches and direct banking for those borrowing between £50,000 and £1million.

Tesco Bank is offering a competitive rate of 2.79%, fixed for five years, on loans up to 75% with a booking fee of £195 and product fee of £800. Remortgage customers will get free standard legal fees and their first standard valuation fee paid for by the bank.

Nationwide is offering new customers remortgaging their current home a five-year fixed rate of 2.84% on a £100,000 loan at 50% LTV with fees of £999 or 3.04% with no fees. Both products, available online, offer free standard valuation and either free standard legals or £250 cashback on completion.

Away from the High Street, there are a number of specialist products available at the moment, including the Al Rayahn Bank, which is offering a range of deals for homebuyers with discounts available until 30 June 2015. For those looking for up to 80% finance, the bank is offering a rental rate of 4.19%, fixed until 30 June 2015. A variable deal over the same period is currently 3.59% on finance up to 65% of the value of the home or 3.99% up to 80%. All products have a £399 administration fee and revert to the bank's base home finance rental rate, currently 4.49% (Bank of England Base Rate plus 3.99%) after the discounted period.

The Ecology Building Society offers residential mortgages for customers planning to install energy-saving measures or renewable technologies, for renovating a derelict or run down property, converting a disused or redundant building or building a new property using sustainable materials. Variable rates start at 4.9% for residential customers with a £300 fee and 5.15% for buy-to-let mortgages, with a £350 fee. Discounts of between 0.25% and 1.25% are available, subject to conditions, where energy-saving or renewable energy systems are installed as part of the renovation or new-build.

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

28 October 2016
More and more mortgage lenders are freeing up their restrictions and offering home loans to people later in life...Read more
Mortgages & Homes
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% loa...Read more
Mortgages & Homes
17 November 2014
Recent figures show that 41% of over-55s plan to sell their current home, with three-quarters planning to downsize, freeing up an estimated &poun...Read more
Mortgages & Homes
Search  


Click here to see your activities