Best UK Mortgage Rates This Week (Nov 2024)

Rory McGrellis

Content Writer

Published: 20/11/2024

Last updated: 20 November 2024 at 15:55

Fixed mortgage rates skyrocket as multiple sectors surpass the 4% threshold.

This week sees rates rise significantly for remortgage borrowers, homemovers and first-time buyers compared to last week, as the market continues to grapple with the effects of both the Autumn Budget and recent cut to the Bank of England base rate.

This comes as the latest House Price Index from HM Land Registry found that the average house price in the UK rose by 2.9% in the year to September 2024, and now sits at £292,000. This was up from 2.7% in the year to August.

In Great Britain, the average price for a first-time buyer property rose by 3.2% in the 12 months to September to £245,208. This shows prices for the sector rising at a faster rate compared to the homemover market, which saw average prices rise by 2.4% in the same timeframe to £336,819.

Below, we provide more information on these and other lowest fixed mortgage rates available to remortgage borrowers, homemovers and first-time buyers. Keep in mind, though, the lowest rate may not always be the most cost-effective for your needs and circumstances. That’s why we’ve also offered some alternatives which feature on our Moneyfacts Best Buy chart based on their overall true cost.

For a wider overview of the mortgage market, you can visit our charts.

Although we’ve highlighted the lowest rates across our mortgage charts, borrowers should always keep in mind that the lowest rate may not be the best, or most cost effective, deal for them. Instead, it is important to consider factors such as product fees and incentives when comparing mortgage deals, as these can have a significant impact on the cost of the mortgage. Consumers unsure of which deal is right for them should consider speaking to a mortgage broker, who will be able to provide advice on the best deal for their circumstances.

The best remortgage rates

Last updated: 20/11/2024

Santander

Rate: 4.27% fixed until 2 April 2027, before reverting to 7.00%

Initial period: 2 years

Product fee: £999

Maximum loan-to-value: 60%

APRC: 6.7%

_{Representative example: £210,000 mortgage over 25 years initially at 4.27% fixed for 28 months reverting to 7.00% variable for term. 28 monthly payments of £1140.00 and 272 monthly payments of £1457.20. Total amount payable £429,882.40 includes loan amount, interest of £218,278, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.7% APRC representative.}

Speak To A Broker
Santander

Rate: 4.23% fixed until 2 April 2028, before reverting to 7.00%

Initial period: 3 years

Product fee: £999

Maximum loan-to-value: 60%

APRC: 6.4%

_{Representative example: £210,000 mortgage over 25 years initially at 4.23% fixed for 40 months reverting to 7.00% variable for term. 40 monthly payments of £1135.30 and 260 monthly payments of £1444.60. Total amount payable £422,612.00 includes loan amount, interest of £211,008, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.4% APRC representative.}

Speak To A Broker
Halifax

Rate: 4.23% fixed until 29 February 2028, before reverting to 8.24%

Initial period: 3 years

Product fee: £999

Maximum loan-to-value: 60%

APRC: 7.3%

_{Representative example: £210,000 mortgage over 25 years initially at 4.23% fixed for 39 months reverting to 8.24% variable for term. 39 monthly payments of £1135.30 and 261 monthly payments of £1596.38. Total amount payable £462,310.88 includes loan amount, interest of £250,932, valuation fees of £0 and product fees of £999. The overall cost for comparison is 7.3% APRC representative.}

Speak To A Broker
NatWest

Rate: 4.07% fixed until 31 March 2030, before reverting to 7.74%

Initial period: 5 years

Product fee: £1,495

Maximum loan-to-value: 60%

APRC: 6.3%

_{Representative example: £210,000 mortgage over 25 years initially at 4.07% fixed for 64 months reverting to 7.74% variable for term. 64 monthly payments of £1116.59 and 236 monthly payments of £1496.66. Total amount payable £426,548.52 includes loan amount, interest of £214,674, valuation fees of £0 and product fees of £1495. The overall cost for comparison is 6.3% APRC representative.}

Speak To A Broker
NatWest Int Sols

Rate: 4.07% fixed until 31 March 2030, before reverting to 7.74%

Initial period: 5 years

Product fee: £1,495

Maximum loan-to-value: 60%

APRC: 6.3%

_{Representative example: £210,000 mortgage over 25 years initially at 4.07% fixed for 64 months reverting to 7.74% variable for term. 64 monthly payments of £1116.59 and 236 monthly payments of £1496.66. Total amount payable £426,548.52 includes loan amount, interest of £214,674, valuation fees of £0 and product fees of £1495. The overall cost for comparison is 6.3% APRC representative.}

Speak To A Broker

The lowest two- and three-year fixed rates for remortgage borrowers have unfortunately jumped up this week and are charged by deals from Santander. Costing £999 in arrangement fees, these mortgages charge 4.27% and 4.23% respectively and can both finance up to a maximum 60% loan-to-value (LTV). Available across Great Britain and Northern Ireland, these deals also include a free valuation (up to £1,190) for borrowers in England, Wales and Northern Ireland – those in Scotland instead receive £95 towards a valuation. Furthermore, borrowers can choose between £250 cashback on completion or free legal fees up to £200. As a result, the two-year option earns a spot on our Moneyfacts Best Buy chart.

For borrowers with less equity in their home, the lender also offers an alternative two-year deal that can finance up to 75% LTV. Priced at 4.52% this mortgage also features as a Moneyfacts Best Buy and charges the same £999 arrangement fee. It includes the same incentives and is available across the same lending area.

Halifax also charges the lowest three-year rate of 4.23% on one of its mortgages for those with 40% equity in their home. It is available directly across Great Britain and Northern Ireland and comes with a £999 arrangement fee. As a bonus, it includes a free valuation and free legal fees. Borrowers can also receive £250 cashback if their home has an Energy Performance Certificate (EPC) score of 81 or higher.

NatWest, and its intermediary arm NatWest Int Sols, again charge the lowest five-year fixed rate for remortgage borrowers across Great Britain and Northern Ireland, though this has also risen significantly and now sits at 4.07%. These deals can finance up to 60% LTV and each cost £1,495 in arrangement fees. The mortgage from NatWest includes a free valuation as well as free legal fees. Meanwhile, one of the deals from NatWest Int Sols offers the same incentives, while the other instead comes with £250 cashback in place of the free legal fees.

A five-year deal from Nationwide BS may instead appeal to borrowers after a higher 75% LTV and a lower £999 reservation fee. Charging 4.24%, this Moneyfacts Best Buy also includes a free valuation and £500 cashback on completion. Borrowers can apply for this deal directly or via intermediaries across Great Britain and Northern Ireland, excluding the Scilly Isles.

Compare remortgages

Best Remortgage Rates

The best mortgage rates for homemovers

Last updated: 20/11/2024

MPowered Mortgages

Rate: 4.21% fixed for two years, before reverting to 6.74%

Initial period: 2 years

Product fee: £999

Maximum loan-to-value: 60%

APRC: 6.5%

_{Representative example: £250,000 mortgage over 25 years initially at 4.21% fixed for 24 months reverting to 6.74% variable for term. 24 monthly payments of £1348.75 and 276 monthly payments of £1700.34. Total amount payable £502,712.84 includes loan amount, interest of £251,664, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.5% APRC representative.}

Speak To A Broker
Halifax

Rate: 4.12% fixed until 29 February 2028, before reverting to 8.24%

Initial period: 3 years

Product fee: £999

Maximum loan-to-value: 60%

APRC: 7.2%

_{Representative example: £250,000 mortgage over 25 years initially at 4.12% fixed for 39 months reverting to 8.24% variable for term. 39 monthly payments of £1336.21 and 261 monthly payments of £1898.14. Total amount payable £548,675.73 includes loan amount, interest of £297,527, valuation fees of £100 and product fees of £999. The overall cost for comparison is 7.2% APRC representative.}

Speak To A Broker
Nationwide BS

Rate: 4.12% fixed for three years, before reverting to 7.49%

Initial period: 3 years

Product fee: £999

Maximum loan-to-value: 60%

APRC: 6.8%

_{Representative example: £250,000 mortgage over 25 years initially at 4.12% fixed for 36 months reverting to 7.49% variable for term. 36 monthly payments of £1336.21 and 264 monthly payments of £1793.25. Total amount payable £522,570.56 includes loan amount, interest of £271,522, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.8% APRC representative.}

Go To Provider's Site
Nationwide BS

Rate: 4.14% fixed for five years, before reverting to 7.49%

Initial period: 5 years

Product fee: £999

Maximum loan-to-value: 60%

APRC: 6.3%

_{Representative example: £250,000 mortgage over 25 years initially at 4.14% fixed for 60 months reverting to 7.49% variable for term. 60 monthly payments of £1338.99 and 240 monthly payments of £1757.25. Total amount payable £503,128.40 includes loan amount, interest of £252,079, valuation fees of £0 and product fees of £999. The overall cost for comparison is 6.3% APRC representative.}

Go To Provider's Site
Santander

Rate: 4.14% fixed until 2 April 2030, before reverting to 7.00%

Initial period: 5 years

Product fee: £999

Maximum loan-to-value: 60%

APRC: 5.9%

_{Representative example: £250,000 mortgage over 25 years initially at 4.14% fixed for 64 months reverting to 7.00% variable for term. 64 monthly payments of £1338.99 and 236 monthly payments of £1687.26. Total amount payable £485,162.72 includes loan amount, interest of £233,889, valuation fees of £0 and product fees of £999. The overall cost for comparison is 5.9% APRC representative.}

Speak To A Broker
NatWest

Rate: 4.14% fixed until 31 March 2030, before reverting to 7.74%

Initial period: 5 years

Product fee: £1,495

Maximum loan-to-value: 60%

APRC: 6.3%

_{Representative example: £250,000 mortgage over 25 years initially at 4.14% fixed for 64 months reverting to 7.74% variable for term. 64 monthly payments of £1338.99 and 236 monthly payments of £1784.07. Total amount payable £508,280.88 includes loan amount, interest of £256,736, valuation fees of £0 and product fees of £1495. The overall cost for comparison is 6.3% APRC representative.}

Speak To A Broker
NatWest Int Sols

Rate: 4.14% fixed until 31 March 2030, before reverting to 7.74%

Initial period: 5 years

Product fee: £1,495

Maximum loan-to-value: 60%

APRC: 6.3%

_{Representative example: £250,000 mortgage over 25 years initially at 4.14% fixed for 64 months reverting to 7.74% variable for term. 64 monthly payments of £1338.99 and 236 monthly payments of £1784.07. Total amount payable £508,280.88 includes loan amount, interest of £256,736, valuation fees of £0 and product fees of £1495. The overall cost for comparison is 6.3% APRC representative.}

Speak To A Broker

Fixed rate hikes continue to hit the homemovers market, with MPowered Mortgages now charging the lowest two-year deal. Priced at 4.21%, this sees another sector cross back over the 4% threshold. This deal caters for up to 60% LTV and charges a £999 arrangement fee. Accessible across England and Wales, it’s available via intermediaries and includes a free valuation as an added incentive.

Homemovers with a smaller deposit could instead consider a two-year deal from Nationwide BS, which can finance up to a maximum 80% LTV. Available across Great Britain and Northern Ireland (excluding the Scilly Isles), it charges 4.60% and costs £999 in reservation fees. On top of a free valuation, properties with an EPC score of 86 to 91 can receive £250 or £500 for a score of 92 and above. Note this deal also features on our Moneyfacts Best Buy chart.

Borrowers will be glad to see that the lowest three-year fixed rate for homemovers managed to hold at 4.12% this week. Available directly to borrowers in Great Britain and Northern Ireland, the deal, which is offered by Halifax, can finance up to 60% of your new home. It costs £999 in arrangement fees and can offer £250 cashback for properties with an EPC score of 81 or above.

Nationwide BS also charges 4.12% on a three-year deal. Like the Halifax deal, it can cater for up to 60% LTV and charges a £999 product fee. This mortgage includes a free valuation alongside £250 cashback for properties with an EPC score of 86 to 91, or £500 for a score of 92 and above. Excluding the Scilly Isles, this mortgage is available across Great Britain and Northern Ireland.

Meanwhile, homemovers after a longer term will find the lowest five-year rate is now charged by multiple lenders, including Nationwide BS. Its five-year deal charges 4.14% and is subject to the same terms and lending area as its three-year counterpart. This five-year fix features as a Moneyfacts Best Buy.

Santander also offers two mortgages charging the same rate for those with a 40% deposit. Available across Great Britain and Northern Ireland, one deal can be applied for directly while the other is only accessible via intermediaries. Both charge a £999 arrangement fee, and a free valuation (up to £1,190) is included as an added perk.

Having raised rates, NatWest and NatWest Int Sols now also charge 4.14%. These mortgages both cost £1,495 in arrangement fees and can cater for up to 60% LTV. Each also comes with a free valuation and both are available to borrowers in Great Britain and Northern Ireland.

Compare moving home mortgages

Best Moving Home Rates

The best first-time buyer mortgages

Last updated: 20/11/2024

Nationwide BS

Rate: 5.04% fixed for two years, before reverting to 7.49%

Initial period: 2 years

Product fee: £999

Maximum loan-to-value: 60%

APRC: 7.3%

_{Representative example: £200,000 mortgage over 25 years initially at 5.04% fixed for 24 months reverting to 7.49% variable for term. 24 monthly payments of £1173.85 and 276 monthly payments of £1457.52. Total amount payable £431,496.92 includes loan amount, interest of £230,448, valuation fees of £0 and product fees of £999. The overall cost for comparison is 7.3% APRC representative.}

Go To Provider's Site
Clydesdale Bank

Rate: 4.55% fixed until 31 January 2030, before reverting to 8.99%

Initial period: 5 years

Product fee: £1,499

Maximum loan-to-value: 90%

APRC: 7.3%

_{Representative example: £200,000 mortgage over 25 years initially at 4.55% fixed for 62 months reverting to 8.99% variable for term. 62 monthly payments of £1117.35 and 238 monthly payments of £1577.79. Total amount payable £446,714.72 includes loan amount, interest of £244,790, valuation fees of £181 and product fees of £1499. The overall cost for comparison is 7.3% APRC representative.}

Speak To A Broker
Clydesdale Bank

Rate: 5.20% fixed until 31 January 2027, before reverting to 8.99%

Initial period: 2 years

Product fee: £999

Maximum loan-to-value: 95%

APRC: 8.5%

_{Representative example: £200,000 mortgage over 25 years initially at 5.20% fixed for 26 months reverting to 8.99% variable for term. 26 monthly payments of £1192.60 and 274 monthly payments of £1643.97. Total amount payable £482,880.38 includes loan amount, interest of £281,455, valuation fees of £181 and product fees of £999. The overall cost for comparison is 8.5% APRC representative.}

Speak To A Broker
Monmouthshire BS

Rate: 5.20% fixed for two years, before reverting to 8.39%

Initial period: 2 years

Product fee: £1,149

Maximum loan-to-value: 95%

APRC: 8.1%

_{Representative example: £200,000 mortgage over 25 years initially at 5.20% fixed for 24 months reverting to 8.39% variable for term. 24 monthly payments of £1192.60 and 276 monthly payments of £1570.37. Total amount payable £463,628.52 includes loan amount, interest of £262,045, valuation fees of £260 and product fees of £1149. The overall cost for comparison is 8.1% APRC representative.}

Speak To A Broker
Newcastle BS

Rate: 5.20% fixed until 31 March 2027, before reverting to 6.94%

Initial period: 2 years

Product fee: £999

Maximum loan-to-value: 95%

APRC: 6.8%

_{Representative example: £200,000 mortgage over 25 years initially at 5.20% fixed for 28 months reverting to 6.94% variable for term. 28 monthly payments of £1192.60 and 272 monthly payments of £1390.36. Total amount payable £413,039.72 includes loan amount, interest of £211,571, valuation fees of £290 and product fees of £999. The overall cost for comparison is 6.8% APRC representative.}

Speak To A Broker
Clydesdale Bank

Rate: 4.90% fixed until 31 January 2030, before reverting to 8.99%

Initial period: 5 years

Product fee: £999

Maximum loan-to-value: 95%

APRC: 7.4%

_{Representative example: £200,000 mortgage over 25 years initially at 4.90% fixed for 62 months reverting to 8.99% variable for term. 62 monthly payments of £1157.56 and 238 monthly payments of £1587.20. Total amount payable £450,947.32 includes loan amount, interest of £249,522, valuation fees of £181 and product fees of £999. The overall cost for comparison is 7.4% APRC representative.}

Speak To A Broker
Monmouthshire BS

Rate: 4.90% fixed for five years, before reverting to 8.39%

Initial period: 5 years

Product fee: £1,149

Maximum loan-to-value: 95%

APRC: 7.2%

_{Representative example: £200,000 mortgage over 25 years initially at 4.90% fixed for 60 months reverting to 8.39% variable for term. 60 monthly payments of £1157.56 and 240 monthly payments of £1522.68. Total amount payable £436,480.80 includes loan amount, interest of £234,897, valuation fees of £260 and product fees of £1149. The overall cost for comparison is 7.2% APRC representative.}

Speak To A Broker

It’s bad news for first-time buyers as the lowest two-year rate for those with a 10% deposit now sits above 5% with a deal from Nationwide BS priced at 5.04%. Its £999 reservation fee is partially offset by a £500 cashback incentive which is offered alongside a free valuation. A further £250 is available for those moving to a property with an EPC score of 86 to 91, or £500 for a score exceeding 92. Borrowers across Great Britain and Northern Ireland (excluding the Scilly Isles) can apply for this mortgage directly or via an intermediary.

For first-time buyers looking to save on upfront costs, a two-year deal from Leeds BS comes with no additional product fees. It charges 5.25% and can finance 90% of your new home. Available across England, Wales, mainland Scotland and Northern Ireland, it also includes a free valuation up to a value of £999.

First-time buyers with a 10% deposit will find Clydesdale Bank also charges the lowest five-year rate this week. Its ‘Broker Exclusive’ deal, priced at 4.55%, comes with a sizeable £1,499 arrangement fee and is available across Great Britain. However, if you’re looking for added incentives, note none are included with this mortgage.

If perks are a priority for you, Virgin Money charges 4.69% on a five-year deal that includes £300 cashback, which can be used to offset its smaller £995 arrangement fee. It can finance the same maximum 90% LTV and is available across Great Britain and Northern Ireland.

For first-time buyers with a 5% deposit, the lowest two- and five-year rates are still charged by Clydesdale Bank, priced at 5.20% and 4.90% respectively. These deals can be accessed via intermediaries by borrowers in Great Britain, but do not include added incentives.

Having made reductions on a selection of its products, Monmouthshire BS now matches these rates across both sectors. Both mortgages cater for up to 95% LTV, costing £1,149 in arrangement fees, and likewise include no added perks. They are available directly or via intermediaries across England and Wales, excluding the Scilly Isles, the Isle of Man and the Channel Islands. The five-year deal from Monmouthshire BS features as a Moneyfacts Best Buy.

Meanwhile, yet another mortgage charges the lowest two-year rate at 5.20% this week, with a deal from Newcastle BS. Available to borrowers in Great Britain, it can also finance a maximum 95% LTV, costing £999 in completion fees. Again, no incentives are included.

Compare first-time buyer mortgages

Best First-Time Buyer Rates

Should I speak to a mortgage broker?

Mortgage brokers remove a lot of the paperwork and hassle of getting a mortgage, as well as helping you access exclusive products and rates that aren’t available to the public. Mortgage brokers are regulated by the Financial Conduct Authority (FCA) and are required to pass specific qualifications before they can give you advice.

Speak to an award-winning mortgage broker today

MAB is the preferred mortgage broker of Moneyfactscompare.co.uk

_{Get friendly, expert advice free of charge as a visitor of Moneyfactscompare.co.uk}

_{Mortgage Advice Bureau have 1,600 UK advisers with 200 awards between them.}

Speak to an award-winning mortgage broker today.

Call 0808 149 9177 or request a callback

_{Mortgage Advice Bureau offers fee free mortgage advice for MoneyfactsCompare visitors that call on 0808 149 9177. If you contact Mortgage Advice Bureau outside of these channels you may incur a fee of up to 1%. Lines are open Monday to Friday 8am to 8pm and Saturday 9am to 1pm excluding bank holidays. Calls may be recorded.}

_{Your home may be repossessed if you do not keep up repayments on your mortgage.}

Could a bridging loan support your plans?

A bridging loan can be used to purchase a property at auction, continue a purchase if your sale falls through, or for funding redevelopment projects. A lender could support your plans with between £50,000 and £25 million, depending on your circumstances.

Learn more about bridging loans

The best UK residential mortgage rates this week

Rory McGrellis

News contents

The best remortgage rates

Compare remortgages

The best mortgage rates for homemovers

Compare moving home mortgages

The best first-time buyer mortgages

Compare first-time buyer mortgages

Should I speak to a mortgage broker?

Speak to an award-winning mortgage broker today

Could a bridging loan support your plans?

Other mortgage stories

News contents

The best UK residential mortgage rates this week

Rory McGrellis

News contents

The best remortgage rates

Compare remortgages

The best mortgage rates for homemovers

Compare moving home mortgages

The best first-time buyer mortgages

Compare first-time buyer mortgages

Should I speak to a mortgage broker?

Speak to an award-winning mortgage broker today

Could a bridging loan support your plans?

Other mortgage stories

Receive the latest news, straight to your inbox

News contents

Search news

Search news

Never miss the latest news

Subscribe to our Weekend Moneyfactscompare, Savers Friend and Companies Friend Newsletters and never miss the latest financial news, rates and third party offers.

Never miss the latest business news

Subscribe to our Companies Friend, Weekend Moneyfactscompare and Savers Friend Newsletters and never miss the latest financial news, rates and third party offers.