Rightmove – Cheapest mortgage rate is now a 2-year fixed

March 20, 2025
Love or Hate Rightmove

The lowest available mortgage rate is now a 2-year fixed rate, for those with a 40% deposit.

Commenting more widely on mortgage trends, Matt Smith, Rightmove’s mortgage expert says: “Average mortgage rates at the top-end of the market have fallen more quickly than for those with the smallest deposits over the past year. Someone with a 10% deposit is still looking at an average 5-year mortgage rate of 4.91%, only slightly down from 4.99% at this time last year.

“By contrast, today someone with a 40% deposit is now looking at an average 5-year mortgage rate of 4.20%, down from 4.36% – and we are still seeing some products below the 4% mark in this bracket.

“So while borrowing power has improved for first-time buyers, higher, and slower falling, mortgage rates for those with smaller deposits is still stretching affordability.”

Rightmove’s weekly mortgage tracker

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

Term Lowest rate Weekly change Yearly change
2-year fixed 3.86% -0.09% -0.60%
5-year fixed 3.96% +0.04% -0.17%

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

Loan to Value (LTV) Term Avg rate
13 Mar 2025		 Avg rate
20 Mar 2025		 Weekly Change Yearly Change
95% 2-year-fixed 5.70% 5.67% -0.03% -0.24%
95% 5-year-fixed 5.40% 5.37% -0.03% -0.11%
90% 2-year-fixed 5.23% 5.19% -0.04% -0.27%
90% 5-year-fixed 4.94% 4.91% -0.03% -0.08%

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

 

Loan to Value (LTV) Term Avg rate
13 Mar 2025		 Avg rate
20 Mar 2025		 Weekly Change Yearly Change
85% 2-year-fixed 4.89% 4.87% -0.02% -0.35%
85% 5-year-fixed 4.72% 4.72% +0.00% -0.07%
75% 2-year-fixed 4.64% 4.62% -0.02% -0.44%
75% 5-year-fixed 4.52% 4.53% +0.01% -0.20%

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

Loan to Value (LTV) Term Avg rate
13 Mar 2025		 Avg rate
20 Mar 2025		 Weekly Change Yearly Change
60% 2-year-fixed 4.25% 4.24% -0.01% -0.45%
60% 5-year-fixed 4.18% 4.20% +0.02% -0.16%

 

These rates are provided by Podium and are an average based on 95% of the mortgage market. 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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