Rightmove’s weekly mortgage tracker 07/02/24

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Headlines

  • The average 5-year fixed mortgage rate is now 4.64%, down from 4.77% a year ago
  • The average 2-year fixed mortgage rate is now 4.97%, down from 5.10% a year ago
  • The average 85% LTV 5-year fixed mortgage rate is now 4.58%, down from 4.79% a year ago
  • The average 60% LTV 5-year fixed mortgage rate is now 4.10%, down from 4.41% 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 £1,060 per month, down from £1,083 per month a year ago

Latest rates data

 

LTV

(loan to value)

 

Term

 

Average rate 7th February 2024 Lowest rate 7th February 2024 Average rate

a year ago

 

95%

 

2 year fixed 5.59% 5.15% 5.64%
 

95%

 

5 year fixed 5.25% 4.84% 5.28%
 

90%

 

2 year fixed 5.19% 4.84% 5.51%
 

90%

 

5 year fixed 4.74% 4.39% 5.02%
 

LTV (loan to value)

 

Term

Average rate 7th February 2024 Lowest rate 7th February 2024 Average rate

a year ago

 

85%

 

2 year fixed  

4.96%

 

4.57%

5.12%
 

85%

 

 

5 year fixed

 

 

4.58%

 

4.13%

4.79%
 

75%

 

 

2 year fixed

 

4.80%

 

4.36%

4.89%
 

75%

 

 

5 year fixed

 

4.55% 4.11% 4.55%
 

60%

 

 

2 year fixed

 

4.41% 4.17% 4.73%
 

60%

 

 

5 year fixed

4.10% 3.88% 4.41%

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 £222,473, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,060 per month if repaying over 25 years, compared with £1,083 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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