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Moneyfacts pick of the week
Caitlyn Eastell

Caitlyn Eastell

Apprentice Press & PR Assistant
Published: 30/11/2023

Last updated: 30th November 2023

The Moneyfactscompare.co.uk Pick of the Week showcases the best of the latest products or rate changes to hit the consumer finance market, ranging from mortgages to savings accounts. This week I've analysed the following deals, along with their perks.

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The best UK residential mortgage rates this week
Each week the Moneyfactscompare.co.uk content team round up the very best mortgage rates available in the UK. Compare and apply today.
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Mortgage market sees highest product availability in over 15 years
Alongside falling fixed rates and a longer average shelf-life, increased product availability demonstrates a buoyant period in the mortgage market.
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Bank of England holds base rate at 5.25% for second consecutive month
The Bank of England’s Monetary Policy Committee (MPC) voted 6 to 3 in favour of maintaining the base rate at 5.25% for the second consecutive month.
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Buy-to-let fixed rates drop as product choice rises
Average fixed rates in the buy-to-let market have fallen month-on-month, Moneyfacts’ data reveals. The start of October saw the average rate for a two-year deal drop to 6.40%, down from 6.64% in September. Similarly, the average five-year fixed rate fell to 6.32% from 6.49% during the same months.
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Recent News

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Average five-year mortgage rate drops below 6%

28th September 2023

The average rate for a five-year fixed mortgage fell to 5.99% today – the first time this rate has dropped below 6% since 3 July 2023, according to Moneyfacts’ data.

The average rate for a five-year fixed mortgage fell to 5.99% today – the first time this rate has dropped below 6% since 3 July 2023.

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Bank of England keeps base rate unchanged for first time in almost two years

21st September 2023

The Bank of England’s Monetary Policy Committee (MPC) voted to keep the base rate at 5.25% today - the first time in almost two years the MPC have opted to keep borrowing costs unchanged.

This is the first time in almost two years the Bank of England’s Monetary Policy Committee (MPC) opted to keep borrowing costs unchanged.

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Mortgage market shows signs of stabilising as product choice rises

13th September 2023

Increased product choice, alongside falling average two and five-year fixed rates, may be an early sign of stability within the mortgage market.

Exceeding 5,300 at the start of September, product choice is at its highest level since February 2022.

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Should I increase my mortgage term?

7th September 2023

Longer mortgage terms will lower your monthly repayments but increase your interest overall.

Longer mortgage terms will lower your monthly repayments but increase your interest overall.

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Most Popular Mortgage News

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Seven surprising impacts on the value of your home

26th April 2022

Most of us know that the value of a home is affected by its size, location, and condition, but there are some more unexpected factors at play too. From the quality of your nearest drinking hole to the toys strewn on your child’s bedroom floor, there are a few things that can have a surprisingly big impact on your home’s selling price.

Most of us know that the value of a home is affected by its size, location, and condition, but there are some more unexpected factors at play too.

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Bank of England holds base rate at 5.25% for second consecutive month

2nd November 2023

The Bank of England’s Monetary Policy Committee (MPC) voted 6 to 3 in favour of maintaining the base rate at 5.25% for the second consecutive month.

The Bank of England’s Monetary Policy Committee (MPC) voted 6 to 3 in favour of maintaining the base rate at 5.25% for the second consecutive month.

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An interest-only mortgage could help ease financial pressure during pandemic

6th July 2020

Mortgage borrowers financially struggling due to the Coronavirus pandemic and considering switching to an interest-only mortgage will find that the majority of deals offer an interest-only repayment option

Mortgage borrowers switching to an interest-only mortgage will find that the majority of deals offer an interest-only repayment option

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How to help your grandchildren save for a house deposit

22nd July 2021

It has become common for aspiring homeowners to turn to the bank of mum and dad to realise their dream of owning their first home

It has become common for aspiring homeowners to turn to the bank of mum and dad to realise their dream of owning their first home

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Base rate and the mini-Budget: How did the mortgage market react?

30th January 2023

Using data unique to Moneyfacts, we’ve tracked how mortgage rates have changed since 16 December 2021, the day of the first of nine successive base rate increases. In addition we also reevaluate the impact on the mortgage market.

With a potential base rate rise scheduled this week, how have mortgage rates performed over the last year?

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Generation Home makes fixed mortgage rate reductions – how do they compare?

17th January 2023

Generation Home reduced a range of its fixed rate mortgage options by up to 0.30% yesterday. So how does its new offering compare to the likes of Yorkshire Building Society and NatWest?

How does Generation Home's new offering compare to the likes of Yorkshire Building Society and NatWest?

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How to gift a deposit to your children or grandchildren

4th August 2021

As house prices continue to rise, saving for a house deposit is becoming increasingly challenging for many would-be homeowners, resulting in parents and grandparents gifting money to help towards the deposit

As house prices continue to rise, saving for a house deposit is becoming increasingly challenging for many would-be homeowners

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A year in review: Where have house prices seen the strongest growth?

30th December 2022

Some UK towns and cities saw average property values increase by more than 15% over the last year, according to Halifax, the UK’s largest mortgage lender.

Some UK towns and cities saw average property values increase by more than 15% over the last year

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One week on from base rate: How has the savings market reacted?

30th March 2023

From building societies to digital providers, which banks have passed the latest base rate increase on to their savers?

From building societies to digital providers, which banks have passed the latest base rate increase on to their savers?

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Does a larger deposit always equal a better rate?

13th March 2017

Whether you’re trying to get on or move up the housing ladder, saving a suitable deposit is key. Indeed, moving down the loan-to-value (LTV) scale is often touted as the best way to secure a lower mortgage rate, yet it may not be that simple...

Whether you’re trying to get on or move up the housing ladder, saving a suitable deposit is key. Indeed, moving down the loan-to-value (LTV) scale is often...

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House prices start New Year on the rise, says Rightmove

16th January 2023

While market buoyancy is expected, this is the biggest monthly increase at this time of year since 2020.

While market buoyancy is expected, this is the biggest monthly increase at this time of year since 2020.

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Bank of England raises interest rates to fresh 14-year high

2nd February 2023

The Bank of England’s Monetary Policy Committee (MPC) voted to increase the base rate by 50 basis points today.

The Bank of England’s Monetary Policy Committee (MPC) voted to increase the base rate by 50 basis points today.

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Struggle to save for house deposits forces half of young adults to live with parents

21st June 2019

Over half (58%) of young adults surveyed by the mortgage broker, Trussle, revealed that they still live with their parents as financial circumstances prevent them from moving out and saving for a house deposit or being able to afford to live on their own

Over half (58%) of young adults surveyed by the mortgage broker, Trussle, revealed that they still live with their parents

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Drop in 95% LTV mortgage competition hits first-time buyers

9th September 2019

With the total number of 95% loan-to-value (LTV) mortgage deals falling, while those on a 90% LTV are on the rise, first-time buyers may want to wait until they can save for a 10% deposit to take advantage of the better rates

With the total number of 95% loan-to-value (LTV) mortgage deals falling, first-time buyers may want to wait until they can save for a 10% deposit

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How to pay off an interest-only mortgage

24th November 2020

UK Finance predicted that the number of interest-only mortgages set to mature during 2020 would be 54,000

UK Finance predicted that the number of interest-only mortgages set to mature during 2020 would be 54,000

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Should borrowers use a high street lender or a specialist for a lifetime mortgage?

23rd December 2020

The traditional equity release lenders; Canada Life and Legal and General have been joined by high street names such as Nationwide Building Society, Santander, TSB and Lloyds Bank. We’ve compared equity release providers below to help borrowers decide if they prefer to use a high street name or a specialist lender.

The traditional equity release lenders; Canada Life and Legal and General have been joined by high street names

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Should I use a bridging loan to get stamp duty saving?

22nd December 2020

The stamp duty holiday is set to come to an end 31 March 2021. We explain the faster alternatives to access finance to buy a property before the deadline.

The stamp duty holiday is set to come to an end 31 March 2021. We explain the faster alternatives to access finance to buy a property before the deadline.

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Three things you need to know if you’re becoming the Bank of Mum and Dad

31st January 2023

Considering the challenges first-time buyers face, you might aim to help your adult children, or adult grandchildren onto the property ladder. So, below we have listed three things you should know.

Amid a challenging period for first-time buyers, parents and grandparents are increasingly stepping in to help.

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Stretched affordability – Calculating the ever-increasing costs of homeownership

31st January 2023

Is the dream of homeownership becoming unaffordable? And how much could monthly mortgage payments bite out of your salary?

Is the dream of homeownership becoming unaffordable?

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Mortgage rates start to rise as number of deals cut by over half

11th August 2020

In just five months, the number of mortgage deals available to consumers has more than halved, falling from 5,222 on 1 March to just 2,526

In just five months, the number of mortgage deals available to consumers has more than halved, falling from 5,222 on 1 March to just 2,526

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Returns from flipped properties increase in 2020

23rd November 2020

2020 is set to see the highest percentage of homes bought and sold within 12 months since 2008, according to data from the Land Registry and Hamptons International. Its estimates suggest around 23,000 (2.5%) of homes will have been flipped by the end of the year.

2020 is set to see the highest percentage of homes bought and sold within 12 months since 2008

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5% deposit mortgages fall to lowest rate on record

6th December 2021

The interest rates on mortgage deals aimed at first-time buyers with just a 5% deposit have fallen to their lowest level since records began in 2011

The interest rates on mortgage deals aimed at first-time buyers with just a 5% deposit have fallen to their lowest level since records began in 2011

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Help to buy mortgage rules extended

18th October 2019

The UK Government acts to extend mortgage terms for it's Help to Buy Equity Loan Scheme.

The UK Government acts to extend mortgage terms for it's Help to Buy Equity Loan Scheme

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What to do if you cannot pay your mortgage due to the Covid-19 outbreak

18th March 2020

As the Covid-19 outbreak continues, the financial strain of reduced working hours, living on statutory sick pay and redundancy will start impacting many consumers across the country

The financial strain of reduced working hours, living on statutory sick pay and redundancy will start impacting many consumers across the country

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UK house prices reach record high

16th February 2022

Bad news for potential buyers as the average house price rises rose by £27,000 last year. The latest UK House Price Index recorded average house prices up 10.8% in the year to December 2021. According to data from the Land Registry, it is the biggest gain in a calendar year since 2002.

Bad news for potential buyers as the average house price rises rose by £27,000 last year.

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House prices see largest rise on record during 2021

30th December 2021

The average house price has risen to a record high of £254,822 during December, with the average price increasing by £23,822 over the year

The average house price has risen to a record high of £254,822 during December, with the average price increasing by £23,822 over the year

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Nottingham Building Society Launches Competitive Mortgage Option for First-Time Buyers

25th February 2022

Its new 95% loan-to-value ratio mortgage’s fixed rate is not far behind the lowest mortgage rate on the market. Nottingham Building Society launched a new 2-year 95% loan-to-value mortgage with a fixed-rate of 2.39%. This means its new product, which is only available via intermediaries, is just 0.02 percentage points off the lowest rate on the market. The lender will target first-time buyers with its new mortgage, which includes a product fee of £999. “It’s important to us to do what we can to help first-time buyers achieve their dreams,” said Christie Cook, Head of Mortgage Product at Nottingham Building Society. In addition, Nottingham Building Society has also released another 2-year 95% loan-to-value product with a higher interest rate of 2.78%. This offer includes a £500 cashback offer and no product fees. However, both new offers come with a free valuation. “We aim to keep evolving our products and services – including our focus on our offerings for first-time buyers and those with smaller deposits,” said Cook.

Its new 95% loan loan-to to-value ratio mortgage’s fixed rate is not far behind the lowest mortgage rate on the market.

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First-time buyers see product choice fall by more than half in a month

13th July 2020

In the past month, first-time buyers with a 10% deposit or less will have seen the number of mortgage deals available to them fall by more than half

In the past month, first-time buyers with a 10% deposit or less will have seen the number of mortgage deals available to them fall by more than half

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Nationwide to restart first-time buyer lending

13th July 2020

Nationwide Building Society has announced that it is planning to extend its mortgage product range to include 90% LTV to support first-time buyers

Nationwide Building Society has announced that it is planning to extend its mortgage product range to include 90% LTV to support first-time buyers

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first direct adds to first-time buyer competition

21st March 2023

The retail banking division of HSBC has reduced the rates on more than 30 of its fixed mortgages.

The retail banking division of HSBC has reduced the rates on more than 30 of its fixed mortgages.

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Borrowers’ delight as fresh deals hit the market

27th April 2023

There are now over 5,000 mortgages on the market.

There are now over 5,000 mortgages on the market, but are deals getting any cheaper?

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Skipton BS’s no deposit mortgage – How is it different?

10th May 2023

The mortgage differs from the competition by negating the need for a guarantor.

The mortgage differs from the competition by negating the need for a guarantor.

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Bridging lending increases as buyer demand outstrips supply

28th May 2021

The entire UK property market is currently seeing huge demand from buyers as a result there has been more demand for bridging loans, mortgages and secured loans.

The Uk property market is currently seeing huge demand from buyers.

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House prices continue to rise during November

1st December 2021

Despite signs of housing market activity cooling in recent months, figures released today show that annual house price growth increased in November to 10.0%

Despite signs of housing market activity cooling in recent months, figures released today show that annual house price growth increased in November to 10.0%

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Six-month personal finance review – winners and losers

9th July 2019

Finance expert at Moneyfacts.co.uk, Rachel Springall, takes a look at the first six months of 2019 to find out if consumers are better or worse off than if they had taken out a deal in January.

Who are the mortgage, savers and credit card winners and losers in the first six months of 2019?

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90% LTV mortgage availability at post-crisis high

12th September 2017

The high loan-to-value market has been going from strength to strength in recent years, and the 90% LTV market in particular has seen a definite boost this month, with a huge jump in products and lower mortgage rates.

The high loan-to-value market has been going from strength to strength in recent years, and the 90% LTV market in particular has seen a definite boost this...

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Nationwide to withdraw 90% and 95% mortgage deals

17th June 2020

Nationwide Building Society is set to pull all its 90% and 95% loan-to-value (LTV) products from the market tomorrow, leaving many first-time buyers and homeowners looking for a mortgage at a high LTV struggling to find a competitive deal

Nationwide Building Society is set to pull all its 90% and 95% loan-to-value (LTV) products

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First-time buyers struggle to get mortgages with a 10% deposit

18th June 2020

First-time buyers who have been saving for a 10% house deposit will have seen the number of mortgage deals available to them fall by 40 overnight, with just 75 deals now available at a 90% loan-to-value (LTV)

First-time buyers who have been saving for a 10% house deposit will have seen the number of mortgage deals available to them fall by 40 overnight, with just 75 deals now available at a 90% loan-to-value (LTV)

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Help available for first-time buyers looking to get onto the housing ladder

15th July 2020

This week, the prospect for first-time buyers looking to get onto the property ladder increased as a number of mortgage lenders, including Nationwide and Metro Bank, announced they are reintroducing high loan-to-value (LTV) mortgage deals

This week, the prospect for first-time buyers looking to get onto the property ladder increased as a number of mortgage lenders

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Considering a Coronavirus mortgage payment holiday - could a switch to interest-only help?

9th April 2020

We explore if interest only mortgages might be an alternative to mortgage payment holidays.

We explore if interest only mortgages might be an alternative to mortgage payment holidays.

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Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.

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