Persona Release w/c 3.10.23

Mortgage rates decrease: Weekly best rates from top lenders 

Mortgage rates are dipping, which is positive news for buyers across the UK. Here’s the latest data from Twenty7tec, sharing the best rates in the market for the top ten lenders.

The married couple 

A married couple, aged 42 and 44, with 2 Children, buying a £525k house. £385k mortgage, 15-year term, LTV 73.33%, earnings of £85k and £57k

 

2 year fixed 

Monmouthshire BS retain the top spot for the best deal at £3032.39.

The average rises to £3132.64 from £3157.44.

5 year fixed 

The best offer sits with Virgin Money for a rate of £3018.70 from £3040.56.

The top 10 average drops 0.3% from £3064.39 to £3073.83.

The London professionals

A married couple, aged 45 and 48, with 3 Children. £1m house. £500k mortgage, 15-year term, LTV 50%, both earn £85k each 

 

Mortgage

The best initial rate dips 0.73% from £4077.81 with Nationwide to £4047.72 with Barclay Bank. 

The average of the top ten lenders’ initial rates drops to £4068.34 from £4128.04.

Remortgage

Barclays knocks HSBC from the top spot with a rate of £4027.42 from last week’s rate of £4101.56.

The average of the top 10 lenders’ is now at £4054.33 from £4102.25.

 

First-time buyers

An unmarried couple, aged 29 and 28, no children, buying a £525k house with a £50k deposit from the BOMAD, 25-year term, LTV 90.48%. One earns £85k, the other earns £57k

 

The best initial rate sticks with Accord at £2960.

The average initial open rates from the top ten lenders decreased to £2,997.63 from £3000.48.

2 year fixed 

For a two-year fixed mortgage, the best rate stays with Skipton at £3184.79, with the average moving down from £3213.45 to £3209.89.

5 year fixed 

Accord remains the lead for the best rate for a five-year fixed fee mortgage at £2960.06.

Couple in their twenties 

An unmarried couple, aged 28 and 29, on 38k and 32k, who have one child, looking to buy a house 170k with a 20k deposit.

The best initial rate remains with Monmouthshire BS for a 24-month deal at £873.95,  the average is now at £906.62 from £909.51.

 

Single person

Single person with no children after a 190k home with a 60k deposit.

Monmouthshire sticks at the top with a 60-month deal at 

£686.00, the average of the top ten lenders drops very slightly from £698.62 to £695.33.