Persona release w/c 11.9.23
Twenty7tec: Fractional changes in best rates and average top ten weekly best rates from top mortgage lenders
This week we see prices stabilise for all buyer types.
The married couple
A married couple, aged 42 and 44, with 2 children buying a £525k house. £385k mortgage, 15-year term, LTV 73.33%, earnings of £85k and £57k
2 year fixed
The best price remained stable at last week’s £3032.39 for a two-year fixed fee mortgage from Monmouthshire BS.
The average of the top ten lenders dropped from £3188.81 last week to £3178.76.
5 year fixed
The best price drops to £3,082.65 with HSBC from last week’s best price of £3088.72.
The top 10 average dips to £3083.10 from £3089.93 last week.
The London professionals
A married couple, aged 45 and 48 with 3 children. £1m house. £500k mortgage, 15-year term, LTV 50%, both earn £85k each
The best initial rate stays with HSBC for a two-year fixed at £4101.56.
The average of the top ten lenders’ initial rates decreases from £4161.17 to £4146.80
The best initial rate is a two-year fixed is still with HSBC at £4101.56.
The average of the top 10 lenders’ initial rates dips to £4128.41 from £4136.69
First Time Buyers
An unmarried couple, aged 29 and 28, no children, 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 initial rate remains with Skipton at £2971.18 for a 64-month mortgage.
The average of the initial open rates from the top ten lenders drops from £3043.41 to £3,032.16
For a two-year fixed mortgage, the best rate remains with Skipton at £3184.79 with the average rising slightly from £3229.13 to £3229.47.
The best rate for a five-year fixed fee mortgage is also with Skipton at £2971.8, whilst the average nudges upwards from £3031.92 to £3032.16.
Couple in their twenties
An unmarried couple, aged 28 and 29, on 38k and 32k, who have one child looking to buy a house 170k with a 20k deposit.
The best initial rate is the same as last week for a 24-month deal at £873.95 with Monmouthshire BS, where the average of the top ten lenders is down from £918.45 to £916.63.
Single person with no children after a 190k home with a 60k deposit.
The best initial rate is the same as last week at £686.00 for a 60-month deal with Monmouthshire BS, the average of the top ten lenders also remains the same at £702.58.