Persona Report W/C 17.6.24

Best deals on the mortgage market from top ten lenders

It’s been a quiet week on the mortgage front, with the most movement happening for married couples opting for a 5-year fixed rate.

 

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 

There is no change in the top offer this week, which is still held by Leeds at a rate of £3025.08.

The average rate of the top ten lenders remains almost the same at £3027.46, showing only a minor change from last week’s average of £3027.45.

 

5 year fixed 

HSBC has replaced Barclays in the number one spot after four weeks, with its offer of £2956.69.

The average rate from the top ten lenders has slightly increased from £2957.08 to £2958.86.

 

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

Halifax leads the pack for the fourth consecutive week with the best offer at £3904.69. The average rate among the top ten lenders remains steady with a very small change, now at £3908.08.

 

Remortgage

Skipton continues to offer the best rate at £3651.49, unchanged from last week. Meanwhile, the average rate has seen a slight increase, rising to £3856.37 from £3855.85 last week.

 

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 remains at the top with the best offer of £2863.75 for the fifth week. The average mortgage rate also stays the same at £2887.09.

 

There is no change in the best value provider for a five-year fixed rate, which is still Nationwide at £2863.75. The average rate of the top ten lenders remains at £2887.09 for the second week.

 

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 at the same rate of £865.22. The average of the top ten lenders edged up to £873.50 from £873.49 last week.

 

Single person

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

Barclays still holds the most affordable offer this week at the same rate of £665.58. The average rate of the top ten lenders has edged up slightly to £667.10 from last week’s £665.90.