Best mortgage deals this month

Every month we take an independent look at the best mortgages currently on the market and take our pick of the bunch:

Best long term fixed rate

Chelsea Building Society 5-year fixed mortgage. This deal offers a fixed rate of 3.29% for five years with an arrangement fee of £1495. To benefit from this mortgage you will need a minimum 30% deposit.

Best 3-year fixed rate

ING Direct 3 year fixed rate. This deal is offering a rate of 2.69% for three years, with an arrangement fee of £1945. To benefit from this deal you will need a 40% deposit.

Best 2-year fixed rate

Leeds Building Society. This deal is offering an initial rate of 1.99% until December 2013. There is quite a high arrangement fee, almost £2000, but you could get this great rate with just a 25% deposit.

Best tracker mortgage rate

Santander 2 yr tracker mortgage- This mortgage offer 1.45% above the base rate for two years (currently works out a 1.95%). The arrangement fee is £1995 and you will need a deposit of at least 40%.

Chelsea Building Society 2-year tracker mortgage. If you can’t stretch to a 40% deposit then Chelsea BS are offering a very similar deal for a 30% deposit. This deal offers 1.49% above base rate offering a current rate of 1.99% for two years but has a higher standard variable rate (5.79%) after this period. The mortgage arrangement fee for this product is currently £1495.

Best low deposit mortgage rate

Yorkshire Building Society- YBS are offering a fixed rate of 4.19% until November 2013 with a 10% deposit and an arrangement fee of £995.

Best first time buyer mortgage rate

Yorkshire Building Society- Are offering a fixed rate of 5.09% until September 2013 followed by their standard variable rate (currently 4.99%). There is no mortgage arrangement fee and many other benefits such as £500 cashback on completion.

These fees/rates are all correct at time of publish, please check with individual providers for more details.