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You are here: Home / Mortgages / Best Mortgage Products / 5 Year Fixed Mortgage / Top five year fixed Rates

by Payam Azadi

Top five year fixed Rates

Finance for tax bills

Niche Advice Rate Tracker Index (NARTI)

The Niche Advice Market Watch Rate Tracker Index(NARTI) looks into the progress of five year fixed 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

Director and Advisor of Niche Advice Mr PayamAzadi comments on the latest data:
“The pay rates across the categories have reduced as Lenders try and get the year off to a cracking start. I can certainly vouch for the fact it is the busiest I have been since opening Niche over a decade ago. The quest to have a larger house and perhaps even a study to work from; has been accelerated by the lock-down combined with savings from working from home have seemingly made this for possible more people.

He goes on to say:“This extension of the Stamp Duty Holiday and introduction of the Mortgage Guarantee 95% schemes are likely to further stimulate activity, and it will be interesting to see how the NARTI looks next time out”.

 First time buyer 5 year fix with 15% deposit
Date analysed30/1/20216/3/21
Initial rate2.87%2.71%
Subsequent reversionary rate4.64%5.29%
The total amount you must pay back, including the amount borrowed is£406,635.40£423,323.16
Overall cost of comparison APRC4.0%4.4%
Type and initial benefit periodFixed rate until 30/4/2026Fixed rate until 31/5/2026
Minimum percentage15%15%
Valuation feeFreeFree
Booking fee£Nil£Nil
Lender product fee£995£999
Cashback£Nil£Nil
Lender nameSkipton BSLeeds BS

 
First time buyer 5 year fix with 10% deposit
Date analysed                                      30/1/20216/3/21
Initial rate3.44%3.41%
Subsequent reversionary rate3.59%4.34%
The total amount you must pay back, including the amount borrowed is£408,796.40£430,173.86
Overall cost of comparison APRC3.6%4.1%
Type and initial benefit periodFixed rate for 5 yearsFixed rate until 1/7/2026
Minimum percentage10%10%
Valuation feeFree£275
Booking fee£Nil£Nil
Lender product fee£999£995
Cashback£500£500
Lender nameNationwide BSVirgin Money
 Buy-to-let 5 year fix with 25% deposit
Date analysed                                      30/1/20216/3/21
Initial rate2.03%1.99%
Subsequent reversionary rate4.49%4.44%
The total amount you must pay back, including the amount borrowed is£452,161.75£448,762.44
Overall cost of comparison APRC3.9%3.9%
Type and initial benefit periodFixed rate until 31/3/2026Fixed rate until30/6/2026
Minimum percentage25%25%
Valuation feeFreeFree
Booking fee£Nil£Nil
Lender product fee£1,995£1,995
Cashback£250£Nil
Lender nameAccordTSB
 Buy-to-let 5 year fix with 20% deposit
Date analysed30/1/20216/3/21
Initial rate3.59%3.32%
Subsequent reversionary rate5.34%4.49%
The total amount you must pay back, including the amount borrowed is£540,154.00£497,860.00
Overall cost of comparison APRC4.9%4.3%
Type and initial benefit periodFixed rate for 5 yearsFixed rate until 1/5/2026
Minimum percentage20%20%
Valuation feeFreeFree
Booking fee£Nil£Nil
Lender product fee£Nil£1,995
Cashback£Nil£500
Lender nameLoughborough BSAccord

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, Best Mortgage Products

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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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A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 0234567.

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