Rightmove’s weekly mortgage tracker 17/4/24
April 17, 2024
Headlines
- The average 5-year fixed mortgage rate is now 4.84%, up from 4.45% a year ago
- The average 2-year fixed mortgage rate is now 5.23%, up from 4.77% a year ago
- The average 85% LTV 5-year fixed mortgage rate is now 4.77%, up from 4.46% a year ago
- The average 60% LTV 5-year fixed mortgage rate is now 4.29%, up from 4.13% 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 £1,099 per month, up from £1,056 per month a year ago
Latest rates data
| LTV
(loan to value) |
Term
|
Average rate 17th April 2024 | Lowest rate 17th April 2024 | Average rate
a year ago |
|
95%
|
2 year fixed | 5.98% | 5.47% | 5.48% |
|
95%
|
5 year fixed | 5.52% | 5.09% | 5.04% |
|
90%
|
2 year fixed | 5.50% | 5.13% | 5.07% |
|
90%
|
5 year fixed | 5.03% | 4.64% | 4.69% |
|
LTV (loan to value) |
Term |
Average rate 17th April 2024 | Lowest rate 17th April 2024 | Average rate
a year ago |
|
85%
|
2 year fixed | 5.21% | 4.86% | 4.83% |
|
85%
|
5 year fixed
|
4.77% | 4.38% | 4.46% |
|
75%
|
2 year fixed |
5.04% | 4.59% | 4.56% |
|
75%
|
5 year fixed
|
4.69% | 4.36% | 4.25% |
|
60%
|
2 year fixed
|
4.67% | 4.46% | 4.46% |
|
60%
|
5 year fixed |
4.29% | 4.13% | 4.13% |
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 £226,370, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,099 per month if repaying over 25 years, compared with £1,056 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.
You May Also Enjoy
Freehold and Leasehold Reform Act-lessees can control their own destiny
Matthew Pennycock, Minister of State for Housing and Planning, has made a Parliamentary Statement regarding the future progress of the Freehold and Leasehold Reform Act 2024. The Government have formally recognised the “significant complexity of the task” and that the legislation was rushed in at the end of the last parliament and as a result…
Read More 
Rightmove’s weekly mortgage tracker 22/11/24
The current average asking price of a typical first-time buyer property is £225,340. For someone taking out an average five-year fixed, 85% LTV mortgage, the average monthly mortgage repayment on this type of home is now £1,104 per month if repaying over 25 years, compared with £1,138 per month a year ago (when the average first-time buyer property asking price was…
Read More 
The Architecture Of Attention Behind Social Media Addiction
In the digital age, social media platforms have revolutionized how we connect, share, and consume information. Behind their sleek interfaces lies a sophisticated architecture of persuasive technology. These platforms employ intricate design patterns and technical elements to capture and hold user attention. From subtle visual cues to complex algorithmic systems, every feature serves a calculated…
Read More 
2025 Predictions for the Private Rental Sector
Allison Thompson, National Lettings Managing Director, Leaders Romans Group (LRG) “As we approach 2025, the lettings industry is entering a phase marked by stabilisation and opportunity. Rental inflation has slowed to an average of 3-4% for new lets, reflecting the effects of affordability constraints; renters’ budgets are beginning to limit how much rents can rise.…
Read More 
Response to Matthew Pennycook’s Statement on Leasehold Reform
Yesterday, Secretary of State Matthew Pennycook made a Ministerial Statement on the future of leasehold reform. Responding, Mark Chick, director of ALEP and a Partner at Bishop & Sewell LLP said: ALEP welcomes the ministerial statement which puts in place a timeframe and some objectives for the implementation of the Leasehold & Freehold Reform Act.…
Read More 
Essential Garage Storage Solutions for Small Spaces
Maximize your garage space with practical storage ideas that keep your items organized and accessible. If you’re dealing with a smaller garage, smart solutions can make a big difference in keeping your space neat and usable. 1. Wall-Mounted Storage Wall-mounted storage is an excellent way to save space and keep your garage organized, especially in…
Read More