Rightmove comment on mortgage market and mortgage rates update

March 31, 2025
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Matt Smith, Rightmove’s mortgage expert says:

“As stamp duty deadline day arrives, average mortgage rates have remained steady since last week’s Spring Budget and unexpected drop in inflation rate. The lowest available mortgage rate is still a 2-year fixed deal at 3.86%, for those with the largest deposits, as the short-term outlook for rates remains much improved compared with last year. However, the markets are currently less certain about a second Bank Rate cut of the year in May, which may get pushed to June. Once a cut does happen, it could help to push forward further mortgage rate cuts from lenders.”

 

Update on mortgage rates

 

Average rates for 2-year and 5-year fixed-rate mortgages

 

Term Average rate Weekly change Yearly change
2-year fixed 4.87% -0.01% -0.36%
5-year fixed 4.73% -0.01% -0.11%

 

Lowest rates for 2-year and 5-year fixed-rate mortgages

 

Term Lowest rate Weekly change Yearly change
2-year fixed 3.86% +0.00% -0.60%
5-year fixed 3.96% +0.00% -0.17%

 

Average fixed-term mortgage rates for home-buyers with 5-10% deposits

 

Loan to Value (LTV) Term Avg rate
22 Mar 2025		 Avg rate
29 Mar 2025		 Weekly Change Yearly Change
95% 2-year-fixed 5.66% 5.66% +0.00% -0.25%
95% 5-year-fixed 5.36% 5.35% -0.01% -0.12%
90% 2-year-fixed 5.18% 5.17% -0.01% -0.29%
90% 5-year-fixed 4.91% 4.91% +0.00% -0.07%

 

Average fixed-term mortgage rates for home-buyers with 15-25% deposits

 

Loan to Value (LTV) Term Avg rate
22 Mar 2025		 Avg rate
29 Mar 2025		 Weekly Change Yearly Change
85% 2-year-fixed 4.86% 4.83% -0.03% -0.39%
85% 5-year-fixed 4.72% 4.70% -0.02% -0.09%
75% 2-year-fixed 4.63% 4.62% -0.01% -0.43%
75% 5-year-fixed 4.54% 4.53% -0.01% -0.18%

 

Average fixed-term mortgage rates for home-buyers with 40% deposits

 

Loan to Value (LTV) Term Avg rate
22 Mar 2025		 Avg rate
29 Mar 2025		 Weekly Change Yearly Change
60% 2-year-fixed 4.25% 4.24% -0.01% -0.44%
60% 5-year-fixed 4.20% 4.21% +0.01% -0.13%

 

Rightmove

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

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