First Direct offers a two-year fix of 2.99 per cent with a subsequent rate of 3.69 per cent (all rates are based on a 75 per cent, £150,000 mortgage). The fee is £898. Royal Bank of Scotland has a three-year fix of 3.99 per cent, rising to 4 per cent afterwards, with a £499 fee. Alliance and Leicester have a 4.29 per cent rate for two years, rising to 4.99 per cent, with no management fee. Abbey offers a 3.89 per cent rate, rising to 4.24 per cent, with a £995 fee and £250 returned on completion. HSBC offers a 3.99 per cent rate, which reduces to 3.94 per cent – although this is only available on loans up to £250,000.
In terms of five-year fixes, HSBC is offering a 4.39 per cent mortgage, with a £999 fee (again on loans of up to £250,000). Other five-year rates for those with a 25 per cent deposit include one from Mansfield Building Society at 4.59%, with a £999 fee, and for those with 40 per cent deposit, the Post Office offers a 4.45 per cent five-year fix with a £599 fee.