Persona Report W/C 1.1.2024

2024 first rates: this week’s best offers from top ten lenders

Happy New Year! – Here’s what mortgage lenders are offering the first week of 2024, showing significant new offers for homebuyers across the UK.

The married couple

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

 

2 year fixed

Skipton sticks at the top for the best, with a new offer of £2739.62 from the previous week’s £2747.31.

The average of the top ten lenders dips to £2895.20, down 1.93%.

5 year fixed

Halifax takes the top spot with an offer of £2909.65 from the previous offer from Nationwide at £2,931.21.

The average of the top ten lenders is now £2920.70.

 

The London professionals

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

Mortgage

The best initial rate is still with Skipton at £3,557.90, the same as last week.

The average of the top ten lenders is down 2.18% to £3758.65.

Remortgage

Skipton remains at the top with the best offer of £3557.90, the same as last week.

The average of the top ten lenders decreases by 4.2% to £3655.95 from £3816.60.

First-time buyers

An unmarried couple, aged 29 and 28, with no children, is 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 offer for the initial rate moves to Halifax for a 63-month offer at £2586.67.

The average of the initial open rates from the top ten lenders is now at £2605.40, down 9.12%.

Barclays takes the lead for a  two-year fixed mortgage at £2672.29, and Halifax jumps in first place for a five-year-fixed-fee mortgage, offering £2586.67.

 

Couple in their twenties

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

Gen H is now in the lead for the best deal with an offer of £792.03, down 7.8%.

 

Single person

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

The best offer remains with Skipton BS at the new rate of £555.89.

The average of the top ten lenders goes to £605.72, down 6.6% from the previous average of £648.54.