This week's best mortgage rates

Last updated: Jul 19th, 2013
Feature

Whether you're buying your first home, moving up the ladder or looking to invest, check out our round up of the best mortgage deals around.

Find the best mortgage for you

FIRST-TIME BUYERS

If you are looking to buy your first home the maximum loan-to-value on the mortgage will probably be your biggest concern.

If you are a first-time buyer with only a 5% deposit to put down then Market Harborough Building Society is offering a two-year fixed-rate deal at 5.49% until 31 August 2015 on loans up to £250,000. It comes with a fee of £245.  
 
Those people with a 10% deposit looking for a discounted deal should look to HSBC, which is offering a 3.39% two-year special discounted rate (a discount of 55 basis points off the lender's standard variable rate), reverting to the SVR of 3.94% deal with a £999 fee.

REMORTGAGE

There are some good deals around at the moment for anyone looking to remortgage. If you are prepared to risk a raise in the base rate and could still afford your repayments if it did then there are some excellent tracker deals on the market at the moment.
 
Chelsea Building Society is top of the pops with a two-year (27 months) fixed-rate mortgage with a rate of just 1.64%. You'll need 40% equity to take advantage but it's a great rate. There is a £1,675 application fee.
 
Those homeowners who would prefer a discount mortgage should turn to HSBC, which has a two-year deal at 1.75%, reverting to the variable rate of 3.94% with a £1,999  booking fee.

BUT-TO-LET

With so many would-be first-time buyers struggling to get on the property ladder the rental market is booming. If you are fortunate enough to be able to buy a second property and rent it out then there are some good buy-to-let mortgages on the market.
 
Virgin Money is offering a two-year buy-to-let fixed mortgage that has a rate of 3.49% for borrowers with 40% equity with a 2% arrangement fee and a £1,995 fee. 

OFFSET

Anyone with some savings to set aside should consider an offset mortgage. With this type of mortgage your savings are put in a connected account to your mortgage and the balance of your savings account is used to offset the interest on your mortgage.
 
So, for example, if you had a £200,000 mortgage and £50,000 sat in your connecting savings account you would only pay interest on £150,000 of your mortgage. Given how low interest rates are this can be a far wiser choice than a separate savings account and mortgage.
 
Chelsea Building Society offers the best deal with a two-year fixed offset at 1.84% with an arrangement fee of £1,545 and a maximum LTV of 65%.
 
The next best comes from Yorkshire Building Society, which is offering a rate of 1.86% for two years with a £130 fee. The maximum LTV on this one is also 65%.