Persona Report w/c 23.10.23

What does the mortgage market look like this week for housebuyers in the UK?

Things are levelling out for homeowners with only marginal movement.

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 

Skipton stays at the top with the best offer at £2868.27.

The average goes down from £3061.75 to £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 three children. £1m house. £500k mortgage, 15-year term, LTV 50%, both earn £85k each 

 

Mortgage

The best initial rate remains at £3714.72 with Skipton BS.

The average of the top ten lenders’ initial rates decreased to £3991.95 from £4000.32.

 

Remortgage

The best offer remains at £3714.72 from Skipton.

The average of the top 10 lenders drops to £3954.60 from £3964.33.

First-time buyers

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 stays with Skipton BS at £2900.

The average initial open rates from the top ten lenders remain at £2971.48.

The best rate for a two-year fixed mortgage stays with Skipton BS at £3115.97.

Skipton BS stays in the lead for the best rate for a five-year fixed fee mortgage at £2900.04.

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 now at £901.26 from £902.

 

Single person

Single person with no children after a 190k home with a 60k deposit.

Skipton BS keeps the best offer of £604.68 for 27 months. 

The average of the top ten lenders goes from £681.82 to £681.78