Rightmove’s weekly mortgage tracker 04/10/24

October 4, 2024
Love or Hate Rightmove
  • The average 5-year fixed mortgage rate is now 4.57%, down from 5.43% a year ago
  • The average 2-year fixed mortgage rate is now 4.90%, down from 5.92% a year ago
  • The average 85% LTV 5-year fixed mortgage rate is now 4.59%, down from 5.51% a year ago
  • The average 60% LTV 5-year fixed mortgage rate is now 3.89%, down from 5.01% 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 £1,085 per month, down from £1,177 per month a year ago

 

 Latest rates data

 

LTV

(loan to value)

 

Term

 

Average rate 4th October 2024

Lowest rate 4th October 2024

Average rate

a year ago

 

All

 

2 year fixed

4.90%

3.84%

5.92%

 

All

 

5 year fixed

4.57%

3.68%

5.43%

 

 

LTV

(loan to value)

 

Term

 

Average rate 4th October 2024

Lowest rate 4th October 2024

Average rate

a year ago

 

95%

 

2 year fixed

5.56%

5.22%

6.38%

 

95%

 

5 year fixed

5.21%

4.95%

5.82%

 

90%

 

2 year fixed

5.33%

4.85%

6.16%

 

90%

 

5 year fixed

4.85%

4.37%

5.64%

 

 

 

LTV (loan to value)

 

Term

Average rate 4th October 2024

Lowest rate 4th October 2024

Average rate

a year ago

 

85%

 

2 year fixed

4.92%

4.39%

6.06%

 

85%

 

 

5 year fixed

 

4.59%

4.09%

5.51%

 

75%

 

 

2 year fixed

4.66%

4.04%

5.70%

 

75%

 

 

5 year fixed

 

4.37%

3.87%

5.23%

 

60%

 

 

2 year fixed

 

4.11%

3.84%

5.49%

 

60%

 

 

5 year fixed

3.89%

3.68%

5.01%

 

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 £227,570, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,085 per month if repaying over 25 years, compared with £1,177 per month a year ago (when the average first-time buyer property asking price was £225,244).

Rightmove

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

You May Also Enjoy

Love or Hate Rightmove
Breaking News

Rightmove’s weekly mortgage tracker 04/10/24

The average 5-year fixed mortgage rate is now 4.57%, down from 5.43% a year ago The average 2-year fixed mortgage rate is now 4.90%, down from 5.92% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.59%, down from 5.51% a year ago The average 60% LTV 5-year fixed mortgage rate is now 3.89%, down from 5.01% a year ago The average monthly mortgage payment on a…
Read More →
Breaking News

Zoopla finds 40% of full-time workers priced out of homeownership across Great Britain

New research from Zoopla finds over half (58%) of working households in southern England cannot afford to purchase an average priced two or three-bed home Almost three quarters (74%) of full time workers are unable to buy in London Homeownership is accessible to most workers across the rest of Britain, although there are hotspots emerging…
Read More →
Breaking News

Landlords urged to protect their tenants and properties as nearly half of renters struggle with mould

Rising concern over mould and damp in rental properties is a real issue which wetter UK weather is only making worse – as the last 18 months are declared the wettest on record.   A survey conducted by experts at Quotezone.co.uk has revealed 43% of renters have reported issues with mould or damp.   65% say they have…
Read More →
Breaking News

Breaking Property News 03/10/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   RentalReady property management software company unveils Maia a fully autonomous AI agent RentalReady has added Maia to its existing service and is a leap forward in the company’s aim to revolutionise the hospitality industry. ‘After only one-week after going-live, Maia was already treating the majority of our enquiries,’…
Read More →
Love or Hate Rightmove
Breaking News

Britain’s fastest and slowest markets revealed from Carluke to Chelsea

Rightmove’s Speed of Market Tracker reveals that Carluke in Lanarkshire is Britain’s quickest-selling market, with the average home finding a buyer in just 15 days Giffnock is second (16 days) and Uddingston is third (17 days), both commuter towns to central Glasgow It currently takes 33 days on average to find a buyer in Scotland,…
Read More →
Breaking News

Lowest mortgage rates for 15 months drives double digit boost to buyer demand and home sales reports Zoopla

New sales agreed are 25% higher than a year ago as buyers return to the market Sales up the most in the East Midlands (32%) and North East (30%) Rebound in activity supports slow recovery in house price growth –  UK house prices increase by 0.7% up from -0.3% a  year ago More and more…
Read More →