Mortgage rates fluctuated, with the typical 2-year rate reaching 6% as more people took out loans deep into retirement and prospective homeowners struggled to find a deal they could afford.

Uswitch data shows that the average rate on a two-year fixed agreement this week was 6.09%, which is higher than the 5.99% rate from last week, while the average rate on a five-year plan was 5.40%, which is lower than the 5.46% rate from last week.

Below are the mortgage rates from the UK’s biggest lenders:

 

HSBC

The lender now offers 4.48% for five years as the lowest offer.

If we look at the two-year alternatives, the lowest rate is £999 plus 4.86%.

In all scenarios, a 60% loan-to-value (LTV) mortgage is assumed, necessitating a minimum 40% deposit from purchasers.

With the lender's 95% LTV offerings, saving for a 5% down payment is all that is required. The rates are somewhat higher, though, coming in at 6.05% for a two-year repair and 5.47% for a five-year fix.

 

NatWest

While NatWest offers some of the best prices available, no offer comes close to matching its prior 3.94% offer.

The top rates now available to potential borrowers are found in an online-only offer that offers 4.32%, assuming a 60% LTV, for a five-year loan with a £1,495 upfront charge. But after five years, the percentage nearly doubles to 8.24%.

For green mortgages, which are accessible for homes with an energy performance certificate (EPC) grade of A or B, it offers 4.42%; after that, the charge decreases to £995.

The lowest rate a consumer can get online for a two-year fix is 4.82%, with a product cost of £1,495

 

Santander

Santander has also abandoned its mortgage rate of less than 4%. Instead, it now offers a five-year fix that, with a 40% deposit required, comes in at 4.28%.

4.80% is the two-year fixed rate with a 60% LTV and a £999 buying charge. The price of a two-year fixed rate with a 75% LTV and a £999 buying fee is 4.88%.

This month, Santander lowered a few fixed rates in its buy-to-let, refinancing, and new construction categories. Additionally, a variety of new big loan two-year tracker options with up to 75% LTV are being introduced.

 

Barclays

For those looking to purchase a house with a 40% down payment and a 60% loan-to-value ratio, Barclays used to offer the lowest five-year rate, which was 4.17% with an £899 upfront charge. No more: the lender increased the rate on that transaction to 4.41%.

The lowest two-year mortgage rate available is 4.99%, which is higher than the 4.84% rate from the previous week.

 

Nationwide

Five-year buy fixed rates at Nationwide (NBS.L) begin at 4.59% and come with a £999 charge for borrowers who put down at least 40% of the total amount.

Rates for equivalent two-year periods begin at 4.84%.

 

Halifax

For first-time buyers, the Lloyds-owned lender is offering a two-year fixed rate of 4.78% with a £999 charge.

The comparable five-year rate is likewise fixed at 4.45% (or 60% LTV).

A 10-year agreement with a 4.93% mortgage rate is also available.

 

Summary

Since mortgage rates below 4% are not available, it is more difficult for potential homeowners to claim they have gotten a good bargain.

Although the 4.32% rate NatWest is offering is among the lowest, it demands a 40% deposit, so you will need to put down a sizable sum of money to seal the transaction. Barclays is close, having inked a five-year fix at 4.34%.

 

(Source: yahoofinance.com)