Top 3 Mortgage Providers

Getting a mortgage is getting more difficult as new regulations are being drawn up to ensure that borrowers really will be able to repay their loans, so finding a good mortgage provider is now even more important, particularly if you have only a minimum deposit, though if you are looking for the lowest interest rate, you will need to have a substantial deposit of at least 40%.

The top mortgage provider for those that have that kind of deposit is HSBC. Their mortgage rate starts as 1.99% for a maximum loan to value of 60% and the rate remains fixed for two years after which it increases to 3.8%. The fees are £1499 though these can be added to the loan. HSBC is also worth considering if you have only a small deposit. Currently the bank is waving fees on its 90% loan to value mortgage which starts for the first two years with a fixed rate of 3.84%.

For those who have at least 25% deposit, the Leeds Building Society currently has an excellent offer which charges just 2.45% interest for the first two years and the fee is only £999. Again this can be added to the loan amount. At the end of the two year period the repayment amount reverts to the standard variable rate. There are also a number of different fixed rate mortgages including one with a ten year fixed rate of 4.99%, but you will need a minimum deposit of 20% to qualify for this offer.

For borrowers who have only a small deposit of 10% the Mansfield Building Society has a product that features a fixed rate of 4.19% for the first three years and a fee of just 5.4%. They also have a 95% loan to value mortgage which starts at 4.99% for the first three years followed by a standard variable rate which is currently 5.7%. The maximum amount that you can borrow is £200,000.