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Which mortgage loan is the best

Mortgages are a minefield that you really need a trained financial advisor to help with. Assuming you can’t afford the sort of financial advice that would save you a lot of time and money, which mortgage loan is the best in the market at the moment?
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Remortgage rates

A mortgage advisor would make you aware that there’s no one mortgage that’s best for everyone. Circumstances change and people’s earnings aren’t universal so you’ll need to review the following table with that in mind.

Initial Rate - Type - LTV - Fees - APR

  • N+P - 1.74% - TRACKER - 60% - £30 - 4.20%
  • Nationwide - 1.89% - TRACKER - 60% - £20 - 3.50%
  • Coventry - 1.89% - VARIABLE - 60% - £308 - 1.90%
  • Darlington - 1.94% - VARIABLE - 60% - £274 - 5.00%
  • Virgin - 1.74% - TRACKER - 60% - £1,094 - 4.00%

Terms and conditions

You should make sure to remember that the rate isn’t the whole story. Although rates are very low at the moment, don’t be fooled. There could be additional fees, conditions that aren’t in line with your expectations and terms which don’t suit you so check the fine print.

Moving home rates

The rates for those moving home differ. This is a great time to take a look at your mortgage and the market to see if you could be doing better. As with the remortgage deals, these aren’t necessarily the best offers in the market because your personal circumstances play such a vital role in determining your mortgage.

Initial Rate - Type- LTV - Fees - APR

  • N+P - 1.84% - TRACKER - 75% - £30 - 4.30%
  • Nationwide - 1.89% - TRACKER - 75% - £20 - 3.50%
  • Darlington - 1.94% - VARIABLE - 75% - £274 - 5.00%
  • Loughborough - 2.09% - VARIABLE - 75% - £250 - 4.30%
  • Coventry - 1.89% - VARIABLE - 75% - £808 - 2.00%

Final word

Rather than simply taking our word for it, you should check out the best deals available right now using a comparison site like comparethemarket.com to see if remortgaging is worthwhile.

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