Best Current Mortgage Rates and Providers

The property market has had its up and downs in the past few years, which has also reflected on current mortgage rates. Increase in mortgage rates have left many first time buyers unable to jump on the property ladder, but you can still find some great rates and deals amongst the most popular providers on the market.

You'll first need to know what kind of current mortgage rate you want. The current mortgage rates and types are:

  • Standard variable rates, where monthly payments go up and down according to your lender's standard interest rate (this often corresponds with the Bank of England's rates).
  • Discounted rate, where you move from a lower rate at the beginning to a higher rate throughout the period of the loan.
  • Tracker, which is linked to the Bank of England or another base rate so you're repayments go up and down depending on the economy.
  • Fixed rate, which are often the most popular rates. You pay a fixed rate of interest throughout the period of your loan with no hidden extras in most circumstances.
  • Capped rate, where a standard variable rate is paid (payments can still vary per month) but the amount you pay per month is capped so you don't overstretch your finances.

The type of current mortgage rate you take out with influence your monthly repayments, so it's important to decide which deal is right for you. All current mortgage rates and types come with pros and cons, so speak to your provider about the best solution for your circumstances.

The top providers for the best current mortgage rates on the UK property market are:

Natwest Tracker Mortgage (1.99% APR)

Ing Direct Tracker Mortgage (1.99% APR)

Chelsea Building Society Fixed Rate Mortgage (2.89% APR)

First Direct Variable Mortgage (2.79% APR)

Ing Direct Standard Variable Mortgage (3.59% APR)

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