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- To get the lowest rates borrowers must use Gen H’s legal service for conveyancing.
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For first-time buyers, TSB is offering a two-year fixed rate at 4.99percent (for buyers with at least 15percent deposit), or a five-year fix at 4.64percent (also 85percent LTV). A two-year fixed rate fee-free deal for first-time buyers is now priced at 5.39percent, or 5.84percent over five years. Costs for the lender’s two-year fixed rate for remortgage now start from 4.69percent with a 1,495 fee (60percent LTV), up from 4.59percent. The equivalent five-year deal has gone up by the same amount to a new rate of 4.3percent. Two-year fixed rates currently start at 4.44percent (60percent LTV) with a 995 fee and at 4.04percent over five-years, but these deals will rise by up to 0.25 percentage points. Among its new rates on product transfer deals is a five-year fixed rate at 4.34percent (60percent LTV) with a 995.
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This is for borrowers with at least 40percent cash deposit towards their purchase (60percent loan to value). Santander has cut the cost of selected fixed rate deals for home purchase by up to 0.2 percentage points. Own New’s Rate Reducer scheme is available to all buyers, not just first-timers, and borrowers can choose between two or five-year fixed rate deals. The lender is offering a five-year fixed purchase rate at 4.69percent (85percent LTV) with no fee. Product transfer fixed rate deals, for existing customers looking for a new deal with the bank, will be increased by up to 0.29 percentage points. Nationwide has also introduced a range of remortgage deals for new customers with only 5percent equity in their property – equivalent to a 95percent Loan to Value.