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Mortgage War Will Save Southampton Homeowners £3,215 a Year
- By Brian Linehan
- Mortgage
- 12 January 2024
The mortgage on a typical 85% loan-to-value mortgage would be £221,609 (meaning a 15% deposit of £39,107). If a Southampton first-time buyer bought their house last summer, when the average five-year fixed rate was 6.3%, the mortgage payments would be £1,308.55 per month (for the next five years). At the time of writing this article, Halifax were offering an 85% loan-to-value, five-year fixed rate at 4.57%, yet HSBC were offering something even better, a 4.44%, 85% loan-to-value mortgage on a five-year fixed rate. That means their mortgage payments would only be £1,040.56 per month.
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