Weekly Mortgage Roundup | Top UK Products
Each week, we review the leading mortgage products available in the UK, comparing interest rates and key lending features across major product types and loan terms.
Representative Example
Loan amount: £200,000 over 25 years, initially fixed at 4.70% for 62 months, then switching to a 7.34% variable rate for the remaining term.
- 62 monthly payments of £1,134.49
- 238 monthly payments of £1,401.17
- Total amount payable: £404,946.84 (including £203,817 interest, £0 valuation fees, £995 product fee)
- Overall comparison rate: 6.4% APRC representative
Market Updates
Good news for first-time buyers with a 10% deposit: the lowest two-year fixed rates for mortgages financing up to 90% LTV have decreased this week.
This drop follows rate cuts from NatWest, NatWest International Solutions (Int Sols), and Royal Bank of Scotland (RBS). Each lender is offering two main deals.
Key Features
- £995 arrangement fee
- Free valuation included
- An optional £250 cashback on certain deals
“The cashback offer may particularly attract buyers looking for extra support with purchase expenses.”
Availability
Borrowers in Great Britain and Northern Ireland can access NatWest offers directly, while NatWest Int Sols applications are available via intermediaries. RBS provides its offers directly to customers in Great Britain, the Isle of Man, and the Channel Islands.
Alternative Options
All three lenders also provide two-year fixed products at 4.44% with no product fees. These alternatives share the same loan conditions and benefits as their standard deals.
Author’s Summary
UK lenders have trimmed selected fixed mortgage rates, offering attractive deals with free valuations, cashback options, and new affordability for first-time buyers.