Rightmove’s weekly mortgage tracker – 06/12/23

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  • The average 5-year fixed mortgage rate is now 5.11%, down from 5.36% a year ago
  • The average 2-year fixed mortgage rate is now 5.52%, down from 5.61% a year ago
  • The average 85% LTV 5-year fixed mortgage rate is now 5.20%, down from 5.37% a year ago
  • The average 60% LTV 5-year fixed mortgage rate is now 4.51%, down from 5.06% 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 £1,132 per month, down from £1,153 per month a year ago

 

Latest rates data

 

LTV

(loan to value)

 

Term

 

Average rate 5th December 2023 Lowest rate 5th December 2023 Average rate

a year ago

 

95%

 

2 year fixed 5.95% 5.85% 6.16%
 

95%

 

5 year fixed 5.50% 5.30% 5.85%
 

90%

 

2 year fixed 5.77% 5.39% 5.89%
 

90%

 

5 year fixed 5.26% 4.85% 5.61%

 

 

 

LTV (loan to value)

 

Term

Average rate 5th December 2023 Lowest rate 5th December 2023 Average rate

a year ago

 

85%

 

2 year fixed  

5.66%

 

5.15%

5.64%
 

85%

 

 

5 year fixed

 

 

5.20%

 

4.71%

5.37%
 

75%

 

 

2 year fixed

 

5.36%

 

4.78%

5.39%
 

75%

 

 

5 year fixed

 

5.02% 4.46% 5.14%
 

60%

 

 

2 year fixed

 

4.90% 4.75% 5.34%
 

60%

 

 

5 year fixed

4.51% 4.36% 5.06%

 

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 £223,426, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,132 per month if repaying over 25 years, compared with £1,153 per month a year ago.

Rightmove

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

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