Rightmove’s weekly mortgage tracker 12th September 2024

September 12, 2024
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Headlines

 

  • The average 5-year fixed mortgage rate is now 4.67%, down from 5.64% a year ago
  • The average 2-year fixed mortgage rate is now 5.03%, down from 6.22% a year ago
  • The average 85% LTV 5-year fixed mortgage rate is now 4.70%, down from 5.71% a year ago
  • The average 60% LTV 5-year fixed mortgage rate is now 3.97%, down from 5.27% 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 £1,095 per month, down from £1,191 per month a year ago

 

Latest rates data

 

LTV

(loan to value)

  

Term

 

 Average rate 11th September 2024 Lowest rate 11th September August 2024 Average rate

a year ago

 

All

 

 2 year fixed 5.03% 4.12% 6.22%
 

All

 

 5 year fixed 4.67% 3.77% 5.64%

 

 

LTV

(loan to value)

  

Term

 

 Average rate 11th September 2024 Lowest rate 11th September August 2024 Average rate

a year ago

 

95%

 

 2 year fixed 5.71% 5.35% 6.56%
 

95%

 

 5 year fixed 5.35% 5.05% 5.97%
 

90%

 

 2 year fixed 5.47% 5.12% 6.44%
 

90%

 

 5 year fixed 4.97% 4.55% 5.83%

 

 

 

LTV (loan to value)

  

Term

 Average rate 11th September 2024 Lowest rate 11th September August 2024 Average rate

a year ago

 

85%

 

 2 year fixed 5.04% 4.53% 6.27%
 

85%

 

  

5 year fixed

 

 4.70% 4.14% 5.71%
 

75%

 

  

2 year fixed

 4.78% 4.34% 6.05%
 

75%

 

  

5 year fixed

 

 4.44% 3.93% 5.47%
 

60%

 

  

2 year fixed

 

 4.28% 4.12% 5.88%
 

60%

 

  

5 year fixed

 3.97% 3.77% 5.27%

 

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 £227,191, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,095 per month if repaying over 25 years, compared with £1,191 per month a year ago (when the average first-time buyer property asking price was £223,614).

Average mortgage rates to be credited to Rightmove. The data is provided by specialist mortgage technology provider Podium Solutions. The data covers 95% of mortgage lending, to exclude specialist lenders. All rates are based on products with a circa £999 fee.

Rightmove

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

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