Persona Report W/C 20.11
Our weekly report finds that the mortgage market for first-time buyers is looking up.
This week, there are no major surprises when looking at the best offers from the top ten lenders. The most movement is for first-time buyers, whose average offer is down 1.9% since last week.
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
Skipton is once again the best offer with a rate of £2838.71.
The average of the top ten lenders is down 0.36% to £3012.10 from last week’s £3023.04.
5 year fixed
The best offer goes from Virgin to HSBC with a new rate of £2978.47 from last week’s £2994.77.
The top 10 average drops to £2983.33 from £3002.26.
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
Skipton stays at the top with the best offer of £3676.41, the same as last week.
The average of the top ten lenders goes from £3918.05 to £3953.31.
The best offer is still with Skipton at £3676.41, the same as last week.
The average of the top 10 lenders is now £3900.35, down 0.48% from last week’s £3919.18.
An unmarried couple, aged 29 and 28, with no children, is 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 is still £2838.15 with Skipton, as it has been for weeks with a 63-month offer.
The average of the initial open rates from the top ten lenders is down to £2893.34, down 1.9% from last week’s £2949.66.
The best rate for a two-year fixed mortgage is now with Halifax at a new rate of £3023.37 from Skipton’s long-reigning £3028.70.
Skipton BS stays at the top for a five-year fixed-fee mortgage with the offer of £2838.15.
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 170k with a 20k deposit.
The best initial rate stays the same as last week, with an offer of £873.95 for a 24-month deal with Monmouthshire BS.
A single person with no children after a 190k home with a 60k deposit.
Skipton keeps the best offer with a rate of £593.39.
The average of the top ten lenders goes from £670.76 to £664.25.