Persona Report W/C 28.8.23

Our weekly update on the best rates from top lenders

This week, we see steady rates from the top ten lenders for housebuyers in the UK.

 

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 remains at £3032.39 with Monmouthshire BS for a two-year fixed fee mortgage.

The average of the top ten lenders reduces by 0.21% from £3203.05 to £3196.01.

 

5 year fixed 

The best price is steady at £3088.72, whilst the average lowers slightly from £3099.73 to £3093.21.

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 sticks at a two-year fixed at £4101.56 with HSBC.

The average of the top ten lenders’ initial rates drops to £4161.17 from £4173.71.

Remortgage

The best initial rate is a two-year fixed at £4101.56, the same as last week and the week before.

The average of the top 10 lenders’ initial rates is steady at £4143.40.

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 is the same as the previous two weeks with a 64-month fixed-fee mortgage with Halifax at £3029.15. 

The average of the initial open rates from the top ten lenders is down 0.22% from £3050.23 to £3043.41.

 

For a two-year fixed mortgage, the best rate is still with Halifax at £3202.09.  The average of the two-year fixed fee offers for first-time buyers stays at £3249.91.

The best rate for a five-year fixed fee mortgage stays with Halifax at £3029.15. With the average of the top ten lenders dropping slightly from £3050.23 to £3043.41.

 

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 increases from £905.16 to £909.21.

Single person

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 for a 60-month deal with Monmouthshire BS, the average of the top ten lenders also remains steady at £700.55.

 

James Tucker, CEO of Twentytec says: 

“Across the board, it all seems relatively steady for house buyers, we’re not seeing any dramatic dips or increases – it will be interesting to see what happens over the next month or so.”