Rightmove’s weekly mortgage tracker 12th September 2024

September 12, 2024
Rightmove logo

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.

You May Also Enjoy

Rightmove logo
Breaking News

Rightmove to launch digital agent valuation tool to connect agents with more future sellers

The UK’s largest property platform Rightmove is adding a new product to its suite of valuation tools, helping agents to reach more future sellers that want an online-first experience. With the new Online Agent Valuation, prospective sellers can send photos and detailed information about their home to selected agents, who can then reply with an…
Read More →
Estate Agents should not all look the same
Estate Agent Talk

Building Trust, One Step at a Time

The latest Ipsos Veracity Index reveals that trust in estate agents has reached its all-time-high since they were first included in the survey, with 37% of the public expressing confidence in 2024 compared to just 28% the previous year. But there’s still more to be done to keep on the upward trend according to property…
Read More →
Breaking News

Breaking Property News 11/08/25

Daily bite-sized proptech and property news in partnership with Proptech-X. 10 critical fixes for Estate Agent websites How AI search is reshaping the Web With ChatGPT, Gemini and XAI now answering property questions that once went straight to Google, estate agents face a new digital battleground. AI search is reshaping how buyers, sellers, landlords and tenants…
Read More →
How to add value to your home
Estate Agent Talk

Investing in Property: A Smart Move for Long-Term Financial Growth

In a world of fluctuating markets and uncertain economic trends, property investment remains one of the most stable and reliable ways to build long-term wealth. Whether you’re purchasing your first home, a rental unit, or commercial space, real estate continues to offer numerous advantages that set it apart from other types of investments. This article…
Read More →
How to help out hoarders
Estate Agent Talk

Neighbourly nightmares: One in three Brits face next-door disputes

New research from Rightmove reveals that over a third of Brits (36%) admit to having had an argument with their neighbour Top annoyances are noisy neighbours (78%), parking spot poachers (71%) and curtain twitchers (70%) Neighbour behaviours deemed the biggest red flags are asking for your Wi-Fi password (87%) and letting bins overflow (71%)  …
Read More →
Breaking News

Breaking Property News 07/08/25

Daily bite-sized proptech and property news in partnership with Proptech-X. Interest rates cut to 4%, inflation expected to rise to the same figure The Bank of Engaland after two ballots approve 0.25% cut in rate to 4%, but inflation is double target figure In what is the fourth rate cut since Labour came into power…
Read More →