Top mortgage deals available now with rates starting from 4.1 percent

As economic uncertainty persists, the mortgage market is becoming increasingly volatile. In the last week alone, more than 300 deals were pulled from the shelf, sending mortgage rates rising simultaneously.

The number of deals on offer fell from 5,385 to 5,012, according to research from Moneyfactscompare.co.uk. The firm’s finance expert, Rachel Springall, attributed the drop to “concerns surrounding future interest rate hikes, and lenders are reassessing their propositions”.

However, some experts have said there is “still a good choice of deals available”. Express Money spoke to experts to gauge an idea of what some of the top deals could look like.

Aaron Strutt, product and communications director at Trinity Financial, commented: “Lots of mortgage rates have been increased or withdrawn but there is still a good choice of deals to choose from.

“Barclays, Santander, Halifax and NatWest are offering completely priced rates with two-year fixes starting from 4.43 percent and five-year rates at just over four percent.”

READ MORE: Mortgage choice falls as market anticipates another Base Rate hike

Mr Strutt continued: “If you are applying for a mortgage directly through a bank or building society, you are unlikely to be given notice that the lender is going to increase its rates.”

However, he noted: “If you take time to consider if you want the deal or not, there is a fair chance it will be gone by the time you come to apply.

According to Moneyfactscompare.co.uk Mortgage Best Buys list, Barclays is currently offering a competitive rate for a two-year fix at 4.48 percent with a maximum Loan to Value (LTV) of 75 percent.

Principality Building Society is offering a rate of 4.65 percent on a two-year fix with a maximum LTV of 80 percent.

For three-year fixes, Coventry Building Society is offering a 4.43 percent rate with a maximum LTV of 60 percent.

Yorkshire Building Society is offering a 4.64 percent on a three-year fix with a maximum LTV of 75 percent.

For five-year fixes, Monmouthshire Building Society is offering a rate of 4.1 percent with a maximum LTV of 75 percent.

Virgin Money is offering a competitive 4.11 percent on a five-year fix with a maximum LTV of 65 percent.

For first-time buyers, Hanley Economic Building Society is currently offering a 4.89 percent rate fixed for five years with a maximum LTV of 95 percent.

Meanwhile, Cumberland Building Society is offering a 4.93 percent rate on five-year fix, also with a maximum LTV of 95 percent.

However, it should be noted that the rates listed aren’t always indicative of the rate borrowers could be offered and may not be available when someone comes to apply for a mortgage.

According to Uswitch, the rate someone can get is determined by their financial situation and the size of their deposit.

Claire Flynn, mortgage expert at Uswitch, said: “The larger the deposit, the lower the loan-to-value (LTV), allowing buyers to access better deals because lenders consider them to be less risky.”