Persona Report W/C 1.7.24

Best deals on the mortgage market from top ten lenders 

With the General Election less than four days away, there is a slight decline in rates across all age groups and demographics.

 

The married couple 

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

 

2 year fixed 

Barclays is now offering the best rates, surpassing AIB with a rate of £2999.65, compared to AIB’s previous rate of £3004.60.

The average rate among the top ten lenders has slightly decreased again, now at £3013.49 compared to last week’s average of £3021.61.

 

5 year fixed 

Barclays has replaced NatWest with the best offer, now at £2928.49, down from £2950.86 the previous week.

The average rate among the top ten lenders has also decreased, falling from £2957.54 to £2947.81.

 

The London professionals

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

 

Mortgage

Barclays has overtaken Halifax with the best offer at £3875.51. The average rate among the top ten lenders continues to decline slightly, now standing at £3875.51.

 

Remortgage

Skipton BS continues to offer the best rate at £3651.49, unchanged from last week, marking 37 weeks at the top. Meanwhile, the average rate among the top ten lenders has decreased from £3865.37 to £3850.15.

 

First-time buyers

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

Nationwide BS continues to lead with the best offer of £2863.75 for the seventh consecutive week. The average mortgage rate has decreased slightly from £2885.40 to £2884.88.

For a five-year fixed rate, Nationwide BS remains the best value provider at £2863.75. The average rate among the top ten lenders holds steady at £2884.88.

Couple in their twenties

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

Barclays once again holds the most affordable offer this week, lowering their rate of £865.22 to £860.97. Meanwhile, the average rate among the top ten lenders has slightly to £871.82, down from £873.40.

 

Single person

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

Barclays has now claimed the top spot for best rates from AIB, offering a rate of £653.95, a slight decrease from AIB’s previous rate of £654.83 last week. Additionally, the average rate among the top ten lenders has dropped from £661.95 to £660.08 this week.