Rightmove plc
Rightmove plc
08/14/2024 | Press release | Archived content
Lowest available 5 year fixed rate since before the mini Budget – Rightmove’s weekly mortgage tracker
Lowest available 5-year fixed rate since before the mini-Budget - Rightmove's weekly mortgage tracker
Please find Rightmove's weekly mortgage tracker below.
The lowest available 5-year fixed rate mortgage is now 3.83% (for 60% LTV), which is the lowest a five-year fixed rate has been since before the mini-Budget in September 2022.
Headlines
- The average 5-year fixed mortgage rate is now 4.80%, down from 5.82% a year ago
- The average 2-year fixed mortgage rate is now 5.18%, down from 6.42% a year ago
- The average 85% LTV 5-year fixed mortgage rate is now 4.86%, down from 5.88% a year ago
- The average 60% LTV 5-year fixed mortgage rate is now 4.05%, down from 5.47% a year ago
- The average monthly mortgage payment on a typical first-time buyer type property when taking out an average five-year fixed, 85% LTV mortgage, is now £1,117per month, down from £1,221 per month a year ago
Latest rates data
|
LTV (loan to value) |
Term |
Average rate 14th August 2024 | Lowest rate 14th August 2024 |
Average rate a year ago |
|
All |
2 year fixed | 5.18% | 4.19% | 6.42% |
|
All |
5 year fixed | 4.80% | 3.83% | 5.82% |
|
LTV (loan to value) |
Term |
Average rate 14th August 2024 | Lowest rate 14th August 2024 |
Average rate a year ago |
|
95% |
2 year fixed | 5.90% | 5.44% | 6.67% |
|
95% |
5 year fixed | 5.47% | 5.19% | 6.10% |
|
90% |
2 year fixed | 5.55% | 5.18% | 6.62% |
|
90% |
5 year fixed | 5.09% | 4.68% | 5.99% |
|
LTV (loan to value) |
Term |
Average rate 14th August 2024 | Lowest rate 14th August 2024 |
Average rate a year ago |
|
85% |
2 year fixed | 5.23% | 4.69% | 6.48% |
|
85% |
5 year fixed |
4.86% | 4.36% | 5.88% |
|
75% |
2 year fixed |
4.96% | 4.43% | 6.30% |
|
75% |
5 year fixed |
4.61% | 3.99% | 5.69% |
|
60% |
2 year fixed |
4.44% | 4.19% | 6.10% |
|
60% |
5 year fixed |
4.05% | 3.83% | 5.47% |
Rightmove can provide average monthly mortgage payments based on the latest available asking price and mortgage rate data. For example, the average monthly mortgage payment on a first-time buyer type property which is currently £227,924, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,117per month if repaying over 25 years, compared with £1,221 per month a year ago (when the average first-time buyer property asking price was £225,552).
Average mortgage rates to be credited to Rightmove. The data is provided by specialist mortgage technology provider Podium Solutions. The data covers 95% of mortgage lending, to exclude specialist lenders. All rates are based on products with a circa £999 fee. If you would like further data on different LTVs or fixed terms, please contact us.