Rightmove’s weekly mortgage tracker 04/10/24

October 4, 2024
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  • 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.

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