Find the Best Rates on Mortgages Today
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With the Bank of England base rate at an all time low, home loans are still more affordable than previous years. Low APRs and a competitive market could reduce your overall monthly repayments by switching provider.
An independent mortgage advisor can provide professional and specialist advice and guide you through your options whether you are a first time buyer, moving home or remortgaging an existing property. They search all lenders to offer advice on whole of market products on LTV and any arrangement fees.
Current Offers
- 1.99% - HSBC / First Direct
- 1.99% - The Mortgage Works
- 2.35% - Natwest / RBS
- 2.39% - Chelsea Building Society
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Types of Home Loans Available
There are two main types of mortgages available. A repayment plan is where you pay part of the loan off each month and at the end of the lending period there is no outstanding balance. An interest only product is where you only pay interest due and the loan is never paid. These are being phased out
See how much your monthly repayments will be using our handy online calculator
Your Options Available - a Quick Guide
There are many deals and offers for new or remortgages to refinance an existing debt and these generally fall under the following categories:
- Variable rate - where the interest rate rises and falls generally in line with the Bank of England base rate
- Fixed rate - where the interest rate is fixed for a certain period of time and then goes back to a variable rate
- Offset mortgages - these can be on a fixed or variable interest rate but the loan is offset against your other accounts such as a current or savings account - these types of mortgages can knock several years off the length of the loan but check the interest rate is competitive.
You may be on an SVR which are also increasing so it may be time to check out the current remortgaging options to reduce your monthly repayments.
Current Standard Variable Rates
Here are the current interest rates on offer in the market place today for standard variable rate products (SVR):
- Bank of England base rate 0.5%
- Halifax standard variable rate (SVR) 3.5%
- Nationwide SVR 3.99%
- HSBC SVR 3.94% (this does not track the BOE base rate)
- Barclays SVR 4.99% (via the Woolwich)
- Santander SVR 4.34%
Today you may need a higher deposit than in recent years and most of the best buys in the market have lower rates than these.
Other Information
The mortgage market lenders and specialist brokers are regulated in the UK by the Financial Services Authority who are the official organisation overseeing these companies and also have some excellent advice and guidance on financial arrangements.
Your home may be repossessed if you do not keep up repayments on your mortgage
