Persona Data w/c 7.8.22
Mortgage deal rates staying steady: Our Twenty7tec weekly update on best rates
We can see a promising trend for all housebuyers as rates remain steady with most slightly decreasing in costs from the top ten lenders.
We found:
The married couple
A married couple, aged 42 and 44, with two children buying a £525k house. £385k mortgage, 15-year term, LTV 73.33%, earnings of £85k and £57k
2 year fixed
The best price £3032.39 is steady at the same price three weeks in a row.
The average of the top ten lenders decreases slightly from £3216.75 to £3210.47.
5 year fixed
The best price stays at last week’s rate of £3088.72, whilst the average drops from £3114.75 to £3108.63.
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
The best initial rate is a two-year fixed at £4101.56, the same as the week before.
The average of top ten lenders’ initial rates decreases from £4197.66 to £4181.98
Remortgage
The best initial rate remains at a two-year fixed at £4101.56.
The average of the top 10 lenders’ initial rates dips from £4147.61 to £4142.80.
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 is currently £3063.85 for a 64-month fixed-fee mortgage with Accord. The next best deal remains with HSBC for a 63-month fixed-fee rate at £3072 .06.
The average of the initial open rates from the top ten lenders is down slightly from £3110.21 to £3104.84
2 year fixed
For a two-year fixed mortgage, the best rate is with Skipton down to £3274.27 from £3283.28 last week. The average of the two-year fixed fee offers for first-time buyers is £3311.83 from £3313.94 last week.
James Tucker, CEO of Twentytec says:
“Across the board offers for all personas seem to be decreasing, which is a promising sign for house buyers.”
