Persona Report W/c 25.3.24
There is little change in rates from the top ten lenders, Twenty7tec reports
In the week where the Bank of England announced the base rate to stay at 5.25% we saw little to no changes from the top ten lenders in their offers to the set persona. See below for more details.
The married couple
A married couple, aged 42 and 44, with two children, are buying a £525k house. £385k mortgage, 15-year term, LTV 73.33%, earnings of £85k and £57k
2 year fixed
The best deal on the market this week for a 2-year fixed mortgage is AIB’s rate of £2945.22, for the third week in a row.
The average of the top ten lenders this week sits at £2968.21, just 0.01% from last week’s £2967.80.
5 year fixed
Nationwide BS stays in the lead for a 5-year fixed mortgage, offering £2927.26.
The average of the top ten lenders is £2929.17, which is barely a change from last week’s average of £2929.58.
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
Barclays is still the top dog, with the same offer of £3839.53. The average of the top ten lenders goes to £3861.36, the same as last week.
Remortgage
Skipton BS continues to offer the best rate for London professionals looking to remortgage, but the best deal on the market is still at £3581.17.
This week’s average offer from the top ten lenders is £3773.33, up slightly from last week’s £3770.50.
First-time buyers
An unmarried couple, aged 29 and 28, with no children, are 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 claims the top spot for the best offer for first-time buyers, with a rate of £2807.75, up from last week’s offer of £2798.38 with Skipton.
The average mortgage rate for first-time buyers this week is £2818.70.
For a two-year fixed-rate mortgage for first-time buyers, Halifax’s new rate of £2891.86 remains the best offer this week.
This week, across the mortgage lenders two-year fixed rates for first-time buyers is at £2929.43.
The best choice for a five-year fixed rate mortgage is now with Nationwide at £2807.75.
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 for £170k with a £20k deposit.
The best deal on the market this week for a couple in their twenties looking for a mortgage remains with Progressive BS (the same as last week), with an offer of £838.01.
The average of the top ten lenders for a couple in their twenties is £852.19.
Single person
Single person with no children after a £190k home with a £60k deposit.
For a sixth week in a row, AIB has offered the best deal for a singleton on the mortgage market, with its untopped rate of £634.96.
The average of the top ten lenders’ rates this week is £648.13, which is barely a change from last week’s £648.30.
