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Who is Offering the Lowest Mortgage Rates?

We review what you should consider when looking for the lowest mortgage rates and steps to apply for a loan. Compare rates from Barclays Mortgage, Yorkshire Building Society, First Direct and more.

Who is Offering the Lowest Mortgage Rates?

Barclays Mortgage, 4.08%, 7.74%; Yorkshire Building Society, 4.28%, 6.33%; First Direct, 4.29%, 6.99%. With the news of the increase in interest rates, it is important to consider whether this increase will be accompanied by a new HMRC tax law. We review what you should consider and the steps to apply for a loan. Lowest fixed-rate offers continue to fall and mortgage approvals have increased for the first time in six months.

If you're looking for a great value mortgage, consider some of the rates listed below. It is important to consider factors such as product fees and incentives when comparing mortgage offers, as they can have a significant impact on the cost of the mortgage. Consumers who aren't sure which offer is right for them should consider talking to a mortgage broker, who can advise them on the best deal for their circumstances. Barclays Mortgage currently offers the lowest two-year fixed offer on the market, with a free valuation and free legal fees or a refund of £350.

Barclays Premier customers can expect a slightly lower rate of 4.08% and the same incentives. If you need to finance at least 75% of your home, Lloyds Bank's Moneyfacts Best Buy offer is worth considering. At 4.58%, this mortgage can finance up to 75% of your home and does not include fees for additional products. It also includes a free valuation, free legal fees and a £250 refund if your home has an Energy Efficiency Certificate (EPC) rating of 81 or higher. Unchanged from last week, Lloyds Bank continues to offer the lowest five-year fixed rate. MPowered Mortgages tops the three-year list with a fee that includes a higher-than-average product fee and includes a free valuation.

If you're interested in reducing the product fee to £999, mPowered Mortgages will increase your rate to 4.29%. Virgin Money offers the lowest two-year fixed-rate mortgage for first-time buyers with a minimum deposit of 10%. While it offers a free valuation as an incentive, it's only available through intermediaries. If you have a Club Lloyds checking account, you can be eligible for an additional refund of €250 when applying for Lloyds Bank's Moneyfacts Best Buy offer. To meet the requirements, your Club Lloyds account must receive at least €1,500 and pay at least two direct debits per month.

Leeds BS offers the best rate if you only have enough for a deposit of less than 5%. While it comes with a free valuation, you can compare it to the Moneyfacts Best Buy offer from Nationwide BS. At 3.94%, Nationwide BS's offer does not include additional product fees, a free valuation, a £500 refund and a money-back incentive for energy-efficient homes. This equates to £250 for those with an EPC score between 86 and 91, while £500 are awarded to those with a score of 92 or more. Newcastle BS offers the lowest five-year rate but does not include any incentives. Cumberland BS offers an alternative Moneyfacts Best Buy with 4.93%.

This does not include any additional fees for the product and offers a free evaluation as an incentive. To find the best mortgage deal for you, check out our mortgage comparison tool*. This gives you the best options, whether you're buying for the first time, moving house, buying to rent, or looking to remortgage.