Rightmove’s weekly mortgage tracker 22/11/2023
November 22, 2023
Headline stats
- The average 5-year fixed mortgage rate is now 5.21%, down from 5.62% a year ago
- The average 2-year fixed mortgage rate is now 5.65%, down from 5.88% a year ago
- The average 85% LTV 5-year fixed mortgage rate is now 5.29%, down from 5.59% a year ago
- The average 60% LTV 5-year fixed mortgage rate is now 4.69%, down from 5.33% 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 £1,143 per month, down from £1,178 per month a year ago
Latest rates data
| LTV
(loan to value) |
Term
|
Average rate 21st November 2023 | Lowest rate 21st November 2023 | Average rate
a year ago |
|
95%
|
2 year fixed | 6.03% | 5.85% | 6.34% |
|
95%
|
5 year fixed | 5.56% | 5.30% | 5.97% |
|
90%
|
2 year fixed | 5.85% | 5.43% | 6.13% |
|
90%
|
5 year fixed | 5.33% | 4.92% | 5.86% |
|
LTV (loan to value) |
Term |
Average rate 21st November 2023 | Lowest rate 21st November 2023 | Average rate
a year ago |
|
85%
|
2 year fixed |
5.77% |
5.35% |
5.89% |
|
85%
|
5 year fixed
|
5.29% |
4.77% |
5.59% |
|
75%
|
2 year fixed |
5.50% |
4.93% |
5.70% |
|
75%
|
5 year fixed
|
5.12% | 4.58% | 5.42% |
|
60%
|
2 year fixed
|
5.07% | 4.78% | 5.62% |
|
60%
|
5 year fixed |
4.69% | 4.48% | 5.33% |
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 £223,426, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,143 per month if repaying over 25 years, compared with £1,178 per month a year ago.
You May Also Enjoy
Renting vs. Buying: Making Informed Decisions in the UK Property Market
The quest for the perfect abode in the UK often boils down to one pivotal decision: to rent or to buy. This choice goes beyond mere financial implications—it’s a deeply personal journey towards establishing a haven that resonates with our very essence. With the UK property market’s distinctive dynamics and its recent unpredictable shifts, this…
Read More 
Instant Property Valuation: A Game-Changer in the Fast-Paced Real Estate Market
In the contemporary rapid-paced domain of real estate, time proves to be a critical essence. Whether engaging in purchasing, vending, or merely harbouring a curiosity regarding one’s property’s valuation, enduring weeks for a traditional property appraisal may indeed be deemed impracticable and exasperating. Behold the harbinger of transformation: instantaneous property valuation. This pioneering method harnesses…
Read More 
Rightmove comment on Base Rate hold
The Bank of England holds interest rates at 5.25% despite hopes of a cut after a majority decision of 7-2 at its Monetary Policy Committee voted in favour of keeping the status quo at a meeting yesterday. Homeowners hoping for a drop in their mortgage repayments will be disappointed by the Bank of England’s decision…
Read More
Victorian homes reign as most sought-after period property style
The allure of Victorian architecture continues to captivate homebuyers, as new data from Rightmove, the UK’s number one property website, unveils that Victorian homes are the most searched for period property style. Rightmove’s Keyword Sort tool highlights the wider popularity of historic and unique properties, with ‘character’ and ‘period’ ranking in the top twenty most…
Read More 
Breaking Property News – 09/05/24
Daily bite-sized proptech and property news in partnership with Proptech-X. Table of Contents Bank rate maintained at 5.25% – May 2024 OnTheMarket lists more New Homes Bank rate maintained at 5.25% – May 2024 The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a…
Read More
Average 5-year fixed mortgage rate now above 5% for first time since January – Rightmove’s weekly mortgage tracker
Headlines The average 5-year fixed mortgage rate is now 5.02%, up from 4.56% a year ago The average 2-year fixed mortgage rate is now 5.41%, up from 4.84% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.93%, up from 4.52% a year ago The average 60% LTV 5-year fixed mortgage rate is now 4.52%, up from 4.23% a year ago The average monthly mortgage payment on…
Read More