Persona Report W/C 31.10.23
Initial offers from the top ten lenders continue to decrease.
This week’s persona report shows promising signs for house buyers across the UK as offers from the top ten lenders continue to decrease.
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 stays top with a new best offer at £2838.71 from £2868.27.
Average drops 0.3% to £3043.99 from £3054.71
5 year fixed
The best offer remains at £3016.38 with Halifax.
The top 10 average drops marginally from £3023.61 to £3023.41
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 remains with Skipton at a new rate of £3676.41 from £3714.72 with Skipton, down 1.04%
The average of the top ten lenders’ initial rates decreased to £3980.26 from 3991.95.
The best offer is still with Skipton but decreased by £3676.41 from £3714.72.
The average of the top 10 lenders dips slightly from £3954.60 to £3949.08.
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
The best initial rate is £2838.15 with Skipton, down from £2900 last week.
The average initial open rate from the top ten lenders is now at £2960.50, down 0.37% from last week’s £2971.48.
For a two-year fixed mortgage, the best rate stays with Skipton BS at a different rate of £3028.70, down 2.8% from last week’s £3115.97.
Skipton BS stays in the lead for the best rate for a five-year fixed fee mortgage with a best rate of £2838.15.
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 remains with Monmouthshire BS for a 24-month deal at £873.95; the average is down 0.5% to £896.41 from £901.26.
Single person with no children after a 190k home with a 60k deposit.
The best offer remains with Skipton but at a new rate of £593.39 from £604.68 for 28 months.
The average of the top ten lenders is down 1.4% now at £671.87 from £681.78