Several sub 2 per cent interest rates on mortgages with lower loan-to-values were released into the market this week, headlined by HSBC’s market leading five-year fixed rate deal.
As reported on Monday (20 April), the global banking group may have started a new price war with its five-year fix priced at 1.99 per cent.
The mortgage is available at 60 per cent loan-to-value and has a booking fee of £1,499. Charlotte Nelson, spokesperson for Moneyfacts, confirmed that at the reduction makes it the lowest on record.
Virgin Money also announced a number of changes to its residential mortgage range, including rate reductions of up to 0.45 per cent, on Wednesday. Amongst them was a 3-year fixed rate deal at 65 per cent LTV with an interest rate cut to 1.99 per cent and a £995 fee.
The challenger bank also launched an exclusive range designed to appeal to re-mortgage customers in partnership, available to Legal and General Mortgage Club appointed representatives, The Mortgage Advice Bureau and L&G Nouveau members.
Here are all the publicly announced deals this week:
Lender | LTV/type | Headline rate | Product fee |
Accord | 65%/2-year fixed | 1.54% | £845 |
Accord | 65%/5-year fixed | 2.29% | £845 |
Accord | 75%/3-year fixed | 2.14% | £845 |
Accord | 75%/5-year fixed | 2.59% | £845 |
Accord | 80%/2-year fixed | 1.79% | £845 |
Accord | 80%/3-year fixed | 2.29% | £845 |
Accord | 80%/5-year fixed | 2.74% | £845 |
BM Solutions | 0-75%/2-year fixed | 3.44% | £1,495 |
BM Solutions | 0-75%/2-year tracker | 3.34% | £1,495 |
BM Solutions | 0-60%/3-year fixed | 3.39% | £995 |
BM Solutions | 60-75%/3-year fixed | 4.39% | £995 |
BM Solutions | 0-60%/5-year fixed | 3.59% | £1,495 |
BM Solutions | 60-75%/5-year fixed | 4.24% | £1,495 |
Halifax | 85-90%/2-year fixed | 3.74% | £1,499 |
Halifax | 85-90%/5-year fixed | 3.74% | £1,499 |
Halifax | 80-90%/2-year fixed | 4.09% | £999 |
HSBC | 60%/5-year fixed | 1.99% | £1,499 |
HSBC | 60%/2-year fixed | 1.24% | £1,499 |
Coventry Intermediaries | 65%/2-year fixed | 1.69% | £999 |
Coventry Intermediaries | 65%/5-year fixed | 2.29% | £999 |
Virgin Money | 65%/3-year fixed | 1.99% | £995 |
Virgin Money | 65%/5-year fixed | 2.39% | £995 |
Virgin Money | 65%/5-year fixed | 2.34% (intermediary exclusive) | £1,495 |
Virgin Money | 70%/3-year fixed | 2.19% | £995 |
Legal & General Mortgage Club | 70%/5-year fixed | 2.39% | £1,495 |
Legal & General Mortgage Club | 70%/5-year fixed | 2.69% | £495 |
Virgin Money | 75%/3-year fixed | 2.89% | £0 |
Virgin Money | 75%/5-year fixed | 3.39% | £0 |
Coventry Intermediaries | 75%/5-year fixed | 2.79% | £0 |
Paradigm Mortgage Services | 75%/three-year fixed | 4.54% (BTL) | |
Paradigm Mortgage Services | 75%/three-year fixed | 5.34% (BTL) | |
Legal & General Mortgage Club | 80%/5-year fixed | 2.85% | £1,495 |
Legal & General Mortgage Club | 80%/5-year fixed | 2.99% | £495 |
Coventry Intermediaries | 85%/Flexx for Term | 2.55% | £300 |
Virgin Money | 85%/2-year fixed | 2.39% | £995 |
Virgin Money | 90%/2-year fixed | 3.45% | £0 |
Virgin Money | 90%/5-year fixed | 3.98% | £0 |
Yorkshire Building Society | 95%/5-year fixed | 4.89% | |
Yorkshire Building Society | 95%/2-year fixed | 4.39% | |
Yorkshire Building Society | 95%/2-year fixed | 3.99% | £1,545 |
peter.walker@ft.com