Rightmove’s weekly mortgage tracker – 21/02/24

Love or Hate Rightmove

Headlines

  • The average 5-year fixed mortgage rate is now 4.72%, up from 4.62% a year ago
  • The average 2-year fixed mortgage rate is now 5.08%, up from 4.95% a year ago
  • The average 85% LTV 5-year fixed mortgage rate is now 4.67%, down from 4.68% a year ago
  • The average 60% LTV 5-year fixed mortgage rate is now 4.19%, down from 4.23% 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 £1,081 per month, down from £1,074 per month a year ago

Latest rates data

 

LTV

(loan to value)

 

Term

 

Average rate 21st February 2024 Lowest rate 21st February 2024 Average rate

a year ago

 

95%

 

2 year fixed 5.79% 5.20% 5.64%
 

95%

 

5 year fixed 5.35% 4.84% 5.15%
 

90%

 

2 year fixed 5.31% 4.89% 5.36%
 

90%

 

5 year fixed 4.86% 4.48% 4.89%

 

LTV (loan to value)

 

Term

Average rate 21st February 2024 Lowest rate 21st February 2024 Average rate

a year ago

 

85%

 

2 year fixed 5.08% 4.74% 5.02%
 

85%

 

 

5 year fixed

 

4.67% 4.32% 4.68%
 

75%

 

 

2 year fixed

4.90% 4.40% 4.73%
 

75%

 

 

5 year fixed

 

4.61% 4.14% 4.41%
 

60%

 

 

2 year fixed

 

4.50% 4.38% 4.55%
 

60%

 

 

5 year fixed

4.19% 3.99% 4.23%

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 £224,815, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,081 per month if repaying over 25 years, compared with £1,074 per month a year ago.

Rightmove

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

You May Also Enjoy

Breaking News

Industry reacts as Landlords to be hit with N.I tax

The Government is considering a major change to the way landlords are taxed, with Chancellor Rachel Reeves weighing up plans to apply National Insurance (NI) contributions to rental income as part of her upcoming Autumn Budget. Currently, rental income is subject to income tax but not NI. However, by expanding NI to cover this additional…
Read More
Overseas Property

Brits Are Flocking to Australia in 2025 

The end of summer is always a busy time for international moves, and 2025 is no exception. So far this year, the number of people planning to move abroad has risen by 11% compared to the first half of 2024, according to Compare My Move.  What’s changed is where Brits are choosing to go. Australia…
Read More
Breaking News

UK reports rising property market momentum

eXp UK reports rising property market momentum as sellers return and more sales are agreed The latest internal data from eXp UK has revealed that housing market momentum is continuing to build, with more homes coming to market and a greater number of sales being agreed. eXp UK analysis is based on the firm’s own…
Read More
Breaking News

Homes priced too high take twice as long to sell warns Zoopla

House price growth stabilises over summer months House price growth has slowed over recent months, although this slowdown looks to have stabilised with average house prices 1.3 per cent higher than a year ago Sales agreed are up five per cent on last year, although speculation on possible  tax changes may impact homes valued at…
Read More
Estate Agent Talk

Why September is the Most Expensive Month for Your Boiler

As households prepare to switch their boilers back on after summer, heating engineers are warning that September is often the most expensive month of the year for boiler breakdowns, repairs, and inefficiency. Rob Jones, heating engineer at UK Radiators, explains: “After months of being idle, boilers are suddenly put under pressure when temperatures drop in…
Read More
Estate Agent Talk

What AI Can and Can’t Fix in Block Management

By Robert Poole, Director – Block Management, Glide Property Management, part of LRG In an industry increasingly shaped by regulation, rising expectations and squeezed margins, the promise of AI and automation in block management is understandably appealing. The idea of freeing property managers from repetitive tasks, improving compliance, and streamlining communication offers significant operational value.…
Read More