Niche Advice Rate Tracker Index (NARTI)
The Niche Advice Market Watch Rate Tracker Index (NARTI) looks into the progress of best mortgage rates 5 year fixed UK mortgage rates over the course of time. It is designed to show short term trends to actively help applicants that are close to deciding buying a property. It is information only and the details are taking using the Twenty7tec sourcing software and ranked by true cost* over 60 months, and you must always seek professional advice on your own circumstances before attempting to apply for a mortgage.
Rather than provide rafts of meaningless information NARTI focuses in on the key areas of:
- First time buyer 5 year fix with 15% deposit
- First time buyer 5 year fix with 10% deposit
- Buy-to-let 5 year fix with 25% deposit
- Buy-to-let 5 year fix with 20% deposit
Director and Advisor of Niche Advice Mr Payam Azadi comments on the latest data:
“The Stamp Duty holiday has come to an end and clearly the Lenders are fighting for business as the rates are exceptional right now. This is best illustrated by the Total Amount to Pay Back in the NARTI with tens of thousands being knocked off the overall cost over the life of the mortgage in most categories!”
Azadi goes on to comment “The Summer saw the flight of travel is to incentivise “green” properties with a raft of Lenders offering better mortgage terms for properties with energy efficiency ratings of Grade A or B, and the 85% loan-to-value first time buyer offering makes it into my selection.
In the buy-to-let sector, the 80% market is fairly static but my 75% choice sees NatWest feature for the first time in this category. They have revamped their policy this year and removed their ‘minimum earned income level’ to make their underwriting more appealing.”
| First time buyer 5 year fix with 15% deposit | ||
| Date analysed | 14/4/21 | 13/10/21 |
| Initial rate | 2.79% | 2.01% |
| Subsequent reversionary rate | 4.34% | 3.59% |
| The total amount you must pay back, including the amount borrowed is | £397,244.08 | £365,292.66 |
| Overall cost of comparison APRC | 3.8% | 3.0 |
| Type and initial benefit period | Fixed rate until 01/08/2026 | Fixed rate until 28/02/2027 |
| Minimum percentage | 15% | 15% |
| Valuation fee | £275 | Free |
| Booking fee | £Nil | £Nil |
| Lender product fee | £995 | £995 |
| Cashback | £1,000 | £350 |
| Lender name | Virgin Money | NatWest |
| First time buyer 5 year fix with 10% deposit | ||
| Date analysed | 14/4/21 | 13/10/21 |
| Initial rate | 3.29% | 2.59% |
| Subsequent reversionary rate | 5.89% | 4.49% |
| The total amount you must pay back, including the amount borrowed is | £477,121.20 | £421,188.74 |
| Overall cost of comparison APRC | 5.0% | 3.8% |
| Type and initial benefit period | Fixed rate for 5 years | Fixed rate until 31/01/2027 |
| Minimum percentage | 10% | 10% |
| Valuation fee | £295 | Free |
| Booking fee | £199 | £Nil |
| Lender product fee | £800 | £495 |
| Cashback | £Nil | £500 |
| Lender name | Hinckley and Rugby | Accord |
| Buy-to-let 5 year fix with 25% deposit | ||
| Date analysed | 14/4/21 | 13/10/21 |
| Initial rate | 2.03% | 1.69% |
| Subsequent reversionary rate | 5.50% | 3.5% |
| The total amount you must pay back, including the amount borrowed is | £496,788.56 | £428,735.00 |
| Overall cost of comparison APRC | 4.6% | 3.5% |
| Type and initial benefit period | Fixed rate until 31/07/2026 | Fixed rate until 28/02/2027 |
| Minimum percentage | 25% | 25% |
| Valuation fee | £204 | Free |
| Booking fee | £Nil | £Nil |
| Lender product fee | £1,999 | £1,495 |
| Cashback | £500 | £Nil |
| Lender name | Platform | NatWest |
| Buy-to-let 5 year fix with 20% deposit | ||
| Date analysed | 14/4/21 | 13/10/21 |
| Initial rate | 3.32% | 3.18% |
| Subsequent reversionary rate | 4.49% | 4.54% |
| The total amount you must pay back, including the amount borrowed is | £498,094.00 | £497,335.00 |
| Overall cost of comparison APRC | 4.3% | 4.3% |
| Type and initial benefit period | Fixed rate until 31/5/2026 | Fixed rate until 01/02/2027 |
| Minimum percentage | 20% | 20% |
| Valuation fee | Free | £275 |
| Booking fee | £Nil | £Nil |
| Lender product fee | £1,995 | £995 |
| Cashback | £500 | £500 |
| Lender name | Accord | Virgin |
NOTES
* True Cost factors in the interest rate, mortgage set-up costs and any cashback rebates. It assumes the product fee is paid.
* The comparison is based on an assumed purchase price of £300,000 over a 25 year mortgage term.
* It looks at repayment method of “Capital and Interest” for Residential and “Interest only” for Buy-to-let.
* Eligibility will depend on your own personal circumstances.
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