The best five-year fixed mortgages – and how to get them

These are the best five-year fixed mortgages you can get right now, and this is what you need to know to catch the best rates

best five-year fixed mortgage
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Looking for the best five-year fixed mortgages? The property market is bursting at the seams with great mortgage deals, regardless of whether you're a first-time buyer or looking to remortgage. With a number of lenders offering impressively low rates on five-year mortgage terms, this trend is showing no signs of dropping off any time soon. That's what we like to hear.

Santander was one of the major players to recently announce its lowest-ever five-year mortgage deal, coming in at 1.49 per cent for a 60 per cent LTV (loan-to-value). So if you can stump up a 40 per cent deposit, this great rate could be yours. And with a mortgage fee of only £1,048, this is a very attractive offer. 

Rate-wise, you can't beat a five-year mortgage deal of just 1.44 per cent from TSB. This is also offered on a 60 per cent LTV basis, and comes with a slightly higher fee than the Santander five-year deal of just under £1,500. It's not quite as strong as the rates we were seeing back in 2017 when some lenders were offering numbers as low as 1.3 per cent, but these are still very good rates in comparison with the average 2.6 per cent or more that is usually available to most buyers.  

The fact that the best mortgage rates are almost exclusively available to buyers with large deposits will bring little consolation to those still waiting to get on the property ladder; however, the low rates that are available at higher loan-to-value levels are  good news for those seeking to remortgage or move up the property ladder.

Remember when choosing the best option for you to take any additional fees into account, as well as the mortgage rate to make sure that you're comparing like for like. Use the handy calculator below to see what mortgage deal you could get.