Rightmove Mortgage Rate Data
Rightmove’s mortgage expert Matt Smith says: “It’s early days, but we’ve seen the first major lender significantly increase rates and it’s likely that we’ll see other lenders follow suit, though the full impact may take a few weeks to filter through. An increase in fixed-rates was likely to happen following the news earlier in the week that inflation had not fallen as much as markets had predicted. Subsequently the underlying costs of mortgages to lenders has increased and it appears they’re now starting to pass this on through their fixed-deals. We’ve seen average rates creep up from where they were earlier in the week and we expect some further increases in the coming weeks. Though the upward trajectory of mortgage rates will understandably be concerning to those thinking of moving soon, it’s important to remember that right now rates are still lower than they were on average in February before edging down in March & April, and there are likely to be more twists and turns to come with the ongoing uncertainty over inflation.”
The top table tracks 85% and 60% LTV for a 5 year fixed-rate mortgage so you can quickly see the trend at a glance. Further LTVs for 2 and 5 year fixed rates are in the tables that follow. All rates are based on products with a circa £999 fee. Rightmove can now provide mortgage rates across all LTVs for 95% of the mortgage market to exclude specialist lending.
| LTV
(loan to value) |
Term
|
Average rate
23rd May 2023 |
Average rate
26th May 2023 |
Change | Average rate
a year ago |
|
85%
|
5 year fixed | 4.56% | 4.58% | +0.02% | 2.96% |
|
60%
|
5 year fixed | 4.28% | 4.31% | +0.03% | 2.65% |
| LTV (loan to value) |
Term
|
Average rate
23rd May 2023 |
Average rate
26th May 2023 |
Change | Average rate
a year ago |
|
95%
|
2 year fixed | 5.60% | 5.65% | +0.05% | 3.26% |
|
95%
|
5 year fixed | 5.15% | 5.19% | +0.04% | 3.46% |
|
90%
|
2 year fixed | 5.13% | 5.15% | +0.02% | 2.90% |
|
90%
|
5 year fixed | 4.79% | 4.81% | +0.02% | 3.09% |
|
LTV (loan to value) |
Term |
Average rate
23rd May 2023 |
Average rate
26th May 2023 |
Change | Average rate
a year ago |
|
85%
|
2 year fixed |
4.90% |
4.92% |
+0.02% |
2.86% |
|
85%
|
5 year fixed
|
4.56% |
4.58% |
+0.02% |
2.96% |
|
75%
|
2 year fixed |
4.74% |
4.76% |
+0.02% |
2.74% |
|
75%
|
5 year fixed
|
4.41% |
4.44% |
+0.03% |
2.78% |
|
60%
|
2 year fixed
|
4.64% |
4.66% |
+0.02% |
2.59% |
|
60%
|
5 year fixed |
4.28% |
4.31% |
+0.03% |
2.65% |
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.
You May Also Enjoy
Three major cities buck commuter belt trend
One feature that can see homebuyers bag a bargain
Property expert reveals six easily avoidable house-buying errors
Renovating Rental Properties: How to Reduce Costs, Attract the Best Tenants, and Increase Profits Without Unnecessary Investment
Are landlord repossessions set to spike ahead of RRA?
