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You are here: Home / Mortgages / Best Mortgage Products / 5 Year Fixed Mortgage / Best 5 Year Fixed Mortgage UK Index October 2021

by Payam Azadi

Best 5 Year Fixed Mortgage UK Index October 2021

Niche Advice Rate Tracker Index (NARTI)

The Niche Advice Market Watch Rate Tracker Index (NARTI) looks into the progress of best mortgage rates 5 year fixed UK mortgage rates over the course of time. It is designed to show short term trends to actively help applicants that are close to deciding buying a property. It is information only and the details are taking using the Twenty7tec sourcing software and ranked by true cost* over 60 months, and you must always seek professional advice on your own circumstances before attempting to apply for a mortgage.

Rather than provide rafts of meaningless information NARTI focuses in on the key areas of:

  • First time buyer 5 year fix with 15% deposit
  • First time buyer 5 year fix with 10% deposit
  • Buy-to-let 5 year fix with 25% deposit
  • Buy-to-let 5 year fix with 20% deposit
payam azadi

Director and Advisor of Niche Advice Mr Payam Azadi comments on the latest data:

“The Stamp Duty holiday has come to an end and clearly the Lenders are fighting for business as the rates are exceptional right now. This is best illustrated by the Total Amount to Pay Back in the NARTI with tens of thousands being knocked off the overall cost over the life of the mortgage in most categories!”

Azadi goes on to comment “The Summer saw the flight of travel is to incentivise “green” properties with a raft of Lenders offering better mortgage terms for properties with energy efficiency ratings of Grade A or B, and the 85% loan-to-value first time buyer offering makes it into my selection.

 In the buy-to-let sector, the 80% market is fairly static but my 75% choice sees NatWest feature for the first time in this category. They have revamped their policy this year and removed their ‘minimum earned income level’ to make their underwriting more appealing.”

 First time buyer 5 year fix with 15% deposit
Date analysed14/4/2113/10/21
Initial rate2.79%2.01%
Subsequent reversionary rate4.34%3.59%
The total amount you must pay back, including the amount borrowed is£397,244.08£365,292.66
Overall cost of comparison APRC3.8%3.0
Type and initial benefit periodFixed rate until 01/08/2026Fixed rate until 28/02/2027
Minimum percentage15%15%
Valuation fee£275Free
Booking fee£Nil£Nil
Lender product fee£995£995
Cashback£1,000£350
Lender nameVirgin MoneyNatWest

 
First time buyer 5 year fix with 10% deposit
Date analysed                              14/4/2113/10/21
Initial rate3.29%2.59%
Subsequent reversionary rate5.89%4.49%
The total amount you must pay back, including the amount borrowed is£477,121.20£421,188.74
Overall cost of comparison APRC5.0%3.8%
Type and initial benefit periodFixed rate for 5 yearsFixed rate until 31/01/2027
Minimum percentage10%10%
Valuation fee£295Free
Booking fee£199£Nil
Lender product fee£800£495
Cashback£Nil£500
Lender nameHinckley and RugbyAccord
 Buy-to-let 5 year fix with 25% deposit
Date analysed                              14/4/2113/10/21
Initial rate2.03%1.69%
Subsequent reversionary rate5.50%3.5%
The total amount you must pay back, including the amount borrowed is£496,788.56£428,735.00
Overall cost of comparison APRC4.6%3.5%
Type and initial benefit periodFixed rate until 31/07/2026Fixed rate until 28/02/2027
Minimum percentage25%25%
Valuation fee£204Free
Booking fee£Nil£Nil
Lender product fee£1,999£1,495
Cashback£500£Nil
Lender namePlatformNatWest
 Buy-to-let 5 year fix with 20% deposit
Date analysed14/4/2113/10/21
Initial rate3.32%3.18%
Subsequent reversionary rate4.49%4.54%
The total amount you must pay back, including the amount borrowed is£498,094.00£497,335.00
Overall cost of comparison APRC4.3%4.3%
Type and initial benefit periodFixed rate until 31/5/2026Fixed rate until 01/02/2027
Minimum percentage20%20%
Valuation feeFree£275
Booking fee£Nil£Nil
Lender product fee£1,995£995
Cashback£500£500
Lender nameAccordVirgin

NOTES
* True Cost factors in the interest rate, mortgage set-up costs and any cashback rebates. It assumes the product fee is paid.
* The comparison is based on an assumed purchase price of £300,000 over a 25 year mortgage term.
* It looks at repayment method of “Capital and Interest” for Residential and “Interest only” for Buy-to-let.
* Eligibility will depend on your own personal circumstances.   

                                                                             

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Your Property is at Risk if you do not keep up with your mortgage repayments.                   
Niche Advice arranges mortgages and is not a Lender.

Payam Azadi

Author: Payam Azadi

Payam Azadi is a partner at Niche Advice who are whole of the market Independent Mortgage Brokers. His role is very much focused on Property financing both on residential and commercial lines. To get in contact with him please click here.
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Filed Under: 5 Year Fixed Mortgage, Buy to let 5 year fixed Mortgage

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AS A MORTGAGE IS SECURED AGAINST YOUR HOME OR PROPERTY, IT COULD BE REPOSSESSED IF YOU DO NOT KEEP UP THE MORTGAGE REPAYMENTS.

If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.

Niche Advice Limited is a Credit Broker and does not lend money directly to clients. Niche Advice Limited is authorised and regulated by the Financial Conduct Authority. FCA Number: 750263.

Commercial Buy-to-Let and commercial mortgages are not regulated by the Financial Conduct Authority.

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