The past few weeks have served to remind us that, when it comes to the mortgage market, things can change very quickly. After a period of stability, conflict in the Middle East have shaken market confidence, and rates are increasing quickly as a result.
Where most major lenders were offering rates below 4pc just a month ago, these deals are long gone, and average rates for two-year fixes are now climbing towards 6pc. Furthermore, expectations of further Bank Rate cuts this year are out the window.
It’s a worrying time for those looking to secure their first mortgage, as well as anyone seeking their latest deal. To help you navigate this, Telegraph Money has launched mortgage “best buy” tables, powered by live data, so you can stay informed about the latest rates.
Our tables show the top residential mortgage rates, whether you’re buying a new home or remortgaging, for those who prefer to fix or want a variable-rate deal. These rates refresh every day, from Tuesday to Saturday.
If you are a landlord, here are the best buy-to-let mortgage rates.
These Best Buy tables show the best mortgage rates widely available in the market. This means certain accounts are excluded, including those that are available only to local or existing customers, buyers using government support schemes, properties with high energy ratings or clients of specific brokers.
The data is provided by mortgage lenders and verified by Koodoo, the trading name of Mortgage Power Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 845978) on a non-advised basis. The tables update daily between Tuesday and Saturday.
Rates are representative for a £150,000 loan value, £275,000 property value and 25-year term. Try Koodoo’s comparison tool to see if better deals are available for your circumstances.
The information in this article is intended for information purposes and should not be taken as endorsement or advice. Your property may be repossessed if you do not keep up repayments on your mortgage.
These “purchase” rates are for those buying a new property, such as a first-time buyer or a second stepper upgrading to a family home. Those looking for a new deal in their current home need a “remortgage” deal and we show the best rates further below.