General   |   November 1, 2021   |   Helen

Mortgages under 1%

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The Co-op Bank joins a number of other lenders in cutting their interest rates across the board as UK property prices continue to rise. The price of the average UK house increased by 8% to £256,000 in the year to July, according to official data from the Office for National Statistics. Below are some of the lenders offering a mortgage interest rate below 1%.

 

However, aside from comparing interest rates, it is important to look at mortgage fees – some deals charge upfront or exit fees, while others don’t. It is often the case that headline-grabbing low rates also come with the highest fees, which can make a significant difference to the overall amount you pay over the term of the deal.

 

Your mortgage is likely to be your biggest financial commitment so shopping around for the best deals is important. We recommend you speak with a mortgage advisor, who will have access to a range of deals across the market. Contact Real FA to find out more on 0345 646 0809

 

Current lowest mortgage rates (below 1%)

 

Platform (part of Co-op Bank)
Interest rate: 0.79%
Max LTV: 60%
Product fee: £1,499 with £250 cashback
Term: 2-year fix
Remortgage or purchase? Both
Available to first-time buyers? Yes

 

The Cumberland Building Society
Interest rate: 0.83%
Max LTV: 60%
Product fee: £1,999 with potential for £100 cashback
Term: 2-year fix
Remortgage or purchase? Remortgage only
Available to first-time buyers? No

 

TSB
Interest rate: 0.84%
Max LTV: 60%
Product fee: £995
Term: 2-year fix
Remortgage or purchase? Remortgage only
Available to first-time buyers? No

 

Barclays
Interest rate: 0.86%
Max LTV: 60%
Product fee: £999
Term: 2-year fix
Remortgage or purchase? Both
Available to first-time buyers? Yes

 

Nationwide
Interest rate: 0.87%, 0.89%, or 0.94%
Max LTV: 60%
Product fee: Up to £1,499
Term: 2-year fix, 3-year fix or 5-year fix
Remortgage or purchase? Both
Available to first-time buyers? No.

 

Halifax
Interest rate: 0.89%
Max LTV: 60%
Product fee: £1,499
Term: 2-year fix
Remortgage or purchase? Purchase
Available to first-time buyers? Yes

 

HSBC
Interest rate: 0.89%
Max LTV: 60%
Product fee: £999
Term: 2-year fix
Remortgage or purchase? Both
Available to first-time buyers? Yes

 

NatWest
Interest rate: 0.93% or 0.88% (remortgage only)
Max LTV: 60%
Product fee: £995 with £250 cashback
Term: 2-year fix or tracker (follows changes in the Bank of England base rate)
Remortgage or purchase? Both
Available to first-time buyers? No

 

Leek United Building Society
Interest rate: 0.99%
Max LTV: 75%
Product fee: £1,495
Term: 2-year discounted variable rate
Remortgage or purchase? Both
Available to first-time buyers? Yes

 


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