First-time buyers in Great Britain and Northern Ireland with a 10% deposit will find Virgin Money continues to offer the lowest two- and five-year fixed mortgage rates of 4.89% and 4.84%, respectively. These mortgages provide borrowers with the incentive of a free valuation and come with a £999 arrangement fee. They can be applied for via an intermediary.
Those with a 10% deposit wanting to save on upfront costs could explore a two-year deal from the same lender at 5.16% which doesn’t charge any additional product fees. Otherwise, this mortgage comes with the same features as the previous Virgin Money deals.
Alternatively, first direct also offers the cheapest-priced five-year fix for those needing to finance up to 90% LTV. Charging 4.84%, this direct deal, which is available across Great Britain and Northern Ireland, comes with a small £490 booking fee and a free valuation.
The cheapest-priced two-year fixed rate for first-time buyers with a 5% deposit has gone up marginally to 5.37% this week, and is now offered by Halifax and Lloyds Bank. These mortgages come with a £999 arrangement fee and provide borrowers whose properties have an EPC rating of 81 or higher with £250 cashback. Borrowers across Great Britain and Northern Ireland can apply for this deal direct from the lenders.
Also charging the lowest two-year fixed rate of 5.37% for first-time buyers with a 5% deposit is Leeds BS. This mortgage also costs £999 in arrangement fees, and comes with the perk of a free valuation (up to £999). Available across England, Wales, mainland Scotland and Northern Ireland, borrowers can apply for this deal both direct from Leeds BS, or via an intermediary.
Nationwide BS additionally charges 5.37% on a two-year deal to finance up to 95% LTV. This mortgage, available across Great Britain and Northern Ireland (excluding the Scilly Isles), provides a free valuation, £500 cashback and a further £250 for properties with an EPC score between 86 and 91, or £500 if this rating reaches 92 or higher. This deal is accessible directly from Nationwide BS, or from intermediaries.
Borrowers wanting a wider range of incentives could consider a Moneyfacts Best Buy two-year deal, also from Nationwide BS, at 5.42% which doesn’t charge any product fees and comes with a free valuation, as well as £500 cashback. Those buying a property with an EPC rating between 86 and 91 will also receive a further £250 cashback, and borrowers with a score of 92 or higher get £500. Borrowers in Great Britain and Northern Ireland (excluding the Scilly Isles) can apply for this mortgage direct from the lender or via an intermediary.
The lowest five-year fixed rate for first-time buyers who need to finance up to 95% LTV has held steady at 5.30% this week, still offered on two deals, once again from Nationwide BS. Both cost £999 in reservation fees and provide a free valuation and £500 cashback. There’s also a chance to receive further cashback – £250 if your property has an EPC score of 86 to 91, or £500 if it hits 92 or higher. One deal has the added perk of being a Helping Hand mortgage, meaning first-time buyers could borrow up to six times their income. To find out more, head to Nationwide BS’s website. The remaining mortgage otherwise has the same features as its Helping Hand counterpart. Available across Great Britain and Northern Ireland (excluding the Scilly Isles) these deals can be applied for direct from the lender, or via an intermediary.
First-time buyers in Great Britain and Northern Ireland wanting to save on upfront costs could explore a five-year fix at 5.45% from HSBC which doesn’t charge any additional product fees. It can finance a maximum 95% LTV. As an extra perk, this mortgage (available direct or via intermediaries) provides a free valuation and an attractive £1,500 cashback. Considering its overall value, this deal earns a place on our Moneyfacts Best Buy chart.
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