Rightmove’s weekly mortgage tracker 9/11/23

November 9, 2023
Rightmove logo

Headline stats 

 

  • The average 5-year fixed mortgage rate is now 5.35%, down from 5.92% a year ago
  • The average 2-year fixed mortgage rate is now 5.80%, down from 6.19% a year ago
  • The average 85% LTV 5-year fixed mortgage rate is now 5.43%, down from 5.95% a year ago
  • The average 60% LTV 5-year fixed mortgage rate is now 4.94%, down from 5.70% 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 £1,163 per month, down from £1,222 per month a year ago

 

Latest rates data

 

LTV

(loan to value)

  

Term

 

 Average rate 7th November 2023 Lowest rate 7th November 2023 Average rate

a year ago

 

95%

 

 2 year fixed 6.22% 5.99% 6.57%
 

95%

 

 5 year fixed 5.75% 5.59% 6.15%
 

90%

 

 2 year fixed 6.03% 5.61% 6.38%
 

90%

 

 5 year fixed 5.50% 5.10% 6.11%

 

 

LTV (loan to value)

  

Term

 Average rate 7th November 2023 Lowest rate 7th November 2023 Average rate

a year ago

 

85%

 

 2 year fixed  

5.94%

  

5.54%

 6.23%
 

85%

 

  

5 year fixed

 

  

5.43%

  

4.97%

 5.95%
 

75%

 

  

2 year fixed

  

5.55%

  

5.17%

 5.98%
 

75%

 

  

5 year fixed

 

 5.15% 4.74% 5.70%
 

60%

 

  

2 year fixed

 

 5.35% 5.07% 5.96%
 

60%

 

  

5 year fixed

 4.94% 4.64% 5.70%

 

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 £224,263, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,163 per month if repaying over 25 years, compared with £1,222 per month a year ago.

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.

Rightmove

UK Property news updates shared directly from Rightmove PLC - the country's leading property portal.

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