Rightmove’s weekly mortgage tracker – 28/11/24
November 28, 2024
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 £223,426).
Average rates for 2-year and 5-year fixed-rate mortgages
| Term | Average rate | Weekly change | Yearly change |
| 2-year fixed | 5.09% | +0.01% | -0.46% |
| 5-year fixed | 4.86% | +0.01% | -0.27% |
Lowest rates for 2-year and 5-year fixed-rate mortgages
| Term | Lowest rate | Weekly change | Yearly change |
| 2-year fixed | 4.22% | +0.00% | -0.53% |
| 5-year fixed | 4.14% | +0.00% | -0.22% |
Updated: 28 Nov 2024
Average fixed-term mortgage rates for home-buyers with 5-10% deposits
| Loan to Value (LTV) | Term | Avg rate 21 Nov 2024 |
Avg rate 28 Nov 2024 |
Weekly Change | Yearly Change |
| 95% | 2-year-fixed | 5.65% | 5.65% | +0.00% | -0.30% |
| 95% | 5-year-fixed | 5.34% | 5.33% | -0.01% | -0.17% |
| 90% | 2-year-fixed | 5.49% | 5.49% | +0.00% | -0.29% |
| 90% | 5-year-fixed | 5.07% | 5.07% | +0.00% | -0.21% |
Average fixed-term mortgage rates for home-buyers with 15-25% deposits
| Loan to Value (LTV) | Term | Avg rate 21 Nov 2024 |
Avg rate 28 Nov 2024 |
Weekly Change | Yearly Change |
| 85% | 2-year-fixed | 5.09% | 5.10% | +0.01% | -0.58% |
| 85% | 5-year-fixed | 4.85% | 4.86% | +0.01% | -0.35% |
| 75% | 2-year-fixed | 4.83% | 4.87% | +0.04% | -0.51% |
| 75% | 5-year-fixed | 4.70% | 4.74% | +0.04% | -0.30% |
Average fixed-term mortgage rates for home-buyers with 40% deposits
| Loan to Value (LTV) | Term | Avg rate 21 Nov 2024 |
Avg rate 28 Nov 2024 |
Weekly Change | Yearly Change |
| 60% | 2-year-fixed | 4.37% | 4.38% | +0.01% | -0.52% |
| 60% | 5-year-fixed | 4.31% | 4.32% | +0.01% | -0.23% |
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.
You May Also Enjoy
Homes selling as fast as last year
First time buyers in outer London hit hardest as higher borrowing costs and high stamp duty costs weigh on sales times The average time to sell a home is just 1 day longer than last year at 33 days, despite higher mortgage rates and 2 months of conflict in the Middle East However, areas…
Read More 
How to Pick the Ideal Utilities for your Business
Sorting out utilities might not be the most exciting part of running a business, but it is one of those things that quietly affects everything else. Whether it is your electricity, gas, water or internet, these services keep your business moving day to day. Getting them right can help you stay in control of costs…
Read More 
Advice for London landlords and tenants ahead of the Renters’ Rights Act implementation
Phase one of the Renters’ Rights Act (RRA) comes into force on 1 May 2026, and with it brings about the most significant overhaul of the private rental sector in a generation. While the Act will see new responsibilities introduced, it will also offer an opportunity for landlords to strengthen their practices with a clear…
Read More 
Budget-friendly ways to boost your chances of a successful spring house sale
With many households feeling the pressure of changing global economic conditions, tighter finances, and the high costs associated with moving, such as Stamp Duty, legal fees and removals, selling a home can currently feel like challenge. At the same time, spring traditionally brings a surge in buyer activity. Longer days and better weather tend to encourage more viewings,…
Read More 
Expert Reacts To Renters’ Rights Act Ahead of Changes This Week
The Renters’ Rights Act comes into force this week (1st May), introducing major reforms to tenancy structures, eviction rules, and tenant protections across England. The changes will reshape how landlords manage properties and how tenants experience private renting, with significant implications for student private rentals and the wider rental market. Ahead of implementation, Owen Dixon,…
Read More 
52% of buyers are cash purchasers – and they’re ready to move
New research from LRG reveals that sellers entering the spring market are meeting an unusually large pool of cash-ready buyers, many of whom aren’t constrained by affordability, but by a lack of suitable homes. According to LRG’s Spring 2026 Sales Report, based on a survey of 307 buyers and sellers across England and Wales, more than…
Read More