BEST BUYS
Current leading mortgage rates. As at 24 February 2023
Residential
List of services
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3.79% three-year discount - 2.21% below lender's standard variable rate (SVR) (currently 6%). Rate then reverts to SVR for remainder of the termList Item 1
- Arrangement Fee £600
- Valuation fee £0
- Other Fees £15
- Maximum Loan To Value (LTV) 60%
- Maximum Loan £1m
- Early Repayment Charges – £100 plus 3% in year 1, 2% in year 2, 1% in year 3
- 10% overpayments per annum allowed without charges
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ExampleList Item 2
Purchase at £600k with a mortgage of £300k
- 36 months at £712.50, followed by 264 monthly payments at a variable rate, currently 5.85% costing £1,462.50 per month.
- Total amount payable over the full term of the mortgage would be £712,905. This means you pay back £2.38 for every £1 borrowed.
- The overall cost for comparison is 5.4% APRC.
Buy To Let
List of services
-
3.89% fixed until March 2024, followed by a variable rate, currently 8.49% , for the remainder of the termList Item 1
- Arrangement Fee 2%
- Valuation fee £340; other fees £20
- Maximum Loan To Value (LTV) 75%
- Maximum Loan £1m
- Early Repayment Charges – 1.5% of loan amount redeemed until 31 March 2024.
-
ExampleList Item 2
Purchase at £600k with a mortgage of £300k
- 60 payments at a variable rate, currently 3.59%, or £897.50 per month.
- Followed by 240 monthly interest payments at a variable rate, currently 5.85% costing £1,462.5 per month
- The total amount payable over the full term of the mortgage (including fees) would be £708,000. This means you pay back £x for every £1 borrowed.
- The overall cost for comparison is 5.3% APRC.
A mortgage is a loan secured against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.
The Financial Conduct Authority does not typically regulate Buy To Let mortgages.
