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May's best fixed and tracker mortgage rates by LTV

Mortgage rates are lower than ever, so it’s well worth shopping around for the best deal. Here’s our guide to some of the best options available for each of the main loan to value ratios (LTVs) in May.

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The Bank of England decided to hold the base rate at 0.01% in May, which spells good news for anyone with a tracker mortgage. The BOE first slashed rates this low in March last year to help protect the economy from the ravages of the coronavirus pandemic.

The past month has also seen the launch of government-backed 95% mortgages, designed to help people with small deposits get onto the property ladder. This initiative alongside the ongoing stamp duty holiday, which is due to end on June 30, has led to an all time high in mortgage borrowing.

Figures from the Bank of England released this month show that UK homeowners borrowed a record £11.8billion more than they paid back in March 2021. This is the highest level since 1993 when the BOE started capturing these figures.

All this taken together means it’s a really good time to think about remortgaging your house and there are plenty of deals available for people looking to buy their first-ever home. To help, we’ve trawled comparison sites online to find the best offers available in May.

We’ve looked at tracker mortgages (which usually follow an index such as the base rate) as well as fixed-rate options for people who want more certainty around their repayments. We’ve split the deals out according to their loan-to-value percentage looking at everything from 95% mortgages to 60%.

Of course, lenders regularly release new deals, so it’s really important to shop around to find the best offer and you might want to work with a broker. It’s also worth noting that mortgage lenders will look at other factors such as affordability before offering you a contract and not everyone will always get the same rate.

To find the best rates, we said we were looking to buy a £250,000 house, which is close to the average house price in the UK today.

The best 95% LTV mortgage rates

Fixed rate mortgages

  • 2 years - 3.69% - Hanley Economic Building Society; SVR: 4.79% (variable); APRC: 4.7%; Set up fees: £644; available direct from the lender.

  • 5 years - 3.45% - Barclays; SVR: 2.59% (variable); APRC: 3%; Set up fees: £35; apply direct with Barclays or via a broker

Discounted, variable and tracker mortgages

  • 2 years - 3.10% - Loughborough Building Society; SVR: 5.34% (variable); APRC: 5%; Set up fees: £115; apply direct via Loughborough Building Society

  • 5 years - 4.7% - Vernon Building Society; SVR: 5.20% (variable); APRC: 5.2%; Set up fees: £1,159; Only available via a broker

The best 90% LTV mortgage rates

Fixed rate mortgages

  • 2 years - 2.40% - Progressive building society; SVR: 4.35% (variable); APRC: 4.1%; Set up fees: £0; Only available via a broker.

  • 5 years - 3.28% - Clydesdale Bank; SVR: 4.55% (variable); APRC: 4.2%; Set up fees: £2,039; only available via a broker

Discounted, variable and tracker mortgages

  • 2 years - 2.19% - Progressive building society; SVR: 4.35% (variable); APRC: 4%; Set up fees: £0; only available via a broker

  • 5 years - 3.29% - Earl Shilton Building Society; SVR: 4.89% (variable); APRC: 4.4%; Set up fees: £1,154; only available via a broker

The best 80% LTV mortgage rates

Fixed rate mortgages

  • 2 years - 1.69% - Furness Building Society; SVR: 5.14% (variable); APRC: 4.7% Set up fees: £1,575; only available through a broker.

  • 5 years - 2.08% - Yorkshire Building Society; SVR: 4.49% (variable); APRC: 3.6%; Set up fees: £1,675; available direct via the lender

House hunters in Ireland can get a slightly cheaper rate through AIB through the Green Mortgage scheme.

Discounted, variable and tracker mortgages

  • 2 years - 1.49% - Furness BS; SVR: 5.14% (variable); APRC: 4.6%; Set up fees: £1,324; only available via a broker

  • 5 years - 2.09% - Vernon Building Society; SVR: 5.20% (variable); APRC: 4.0%; Set up fees: £260; Available direct from the lender or via a broker

The best 75% LTV mortgage rates

Fixed rate mortgages

  • 2 years - 1.19% - Furness BS; SVR: 5.14% (variable); APRC: 4.6%; Set up fees: £1,019; only available through a broker.

  • 5 years - 1.49% - Barclays; SVR: 3.59% (variable); APRC: 2.6%; Set up fees: £749; available direct from the lender or via a broker

Discounted, variable and tracker mortgages

  • 2 years - 1.39% - The West Brom BS; SVR: 3.99% (variable); APRC: 3.6%; Set up fees: £999; available via a broker

  • 5 years - 1.69% - Newbury Building Society; SVR: 3.95% (variable); APRC: 3.1%; Set up fees: £600; available direct from the lender or via a broker

The best 60% LTV mortgage rates

Fixed rate mortgages

  • 2 years - 1.06% - The Platform (part of the Co-operative Bank); SVR: 4.34%; APRC: 3.9%; Set up fees: £1,499; only available through a broker.

  • 5 Years - 1.21% - HSBC; SVR: 3.54%; APRC: 2.7%; Set up fees: £1,499; only available via a broker

Discounted, variable and tracker mortgages

  • 2 years - 1.39% - HSBC; SVR: 3.54%; APRC: 3.3%; Set up fees: £1,016;  available via a broker

5 years - 1.69% - Newbury Building Society; SVR: 3.95%; APRC: 3.2%; Set up fees: £600; available direct or via a broker

If you're a first time buyer or looking to move house or remortgage, we can help you find the best mortgage deal to suit your needs.