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

Breaking Property News – 24/04/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Smart Spaces delivers the world’s first implementation of HID’s mobile credentials in Google Wallet at Workspace Mobile access control integration makes entry to The Light Bulb building effortless for customers London, April 23, 2024 – Smart Spaces announces today that it has partnered with trusted identity provider,…
Read More
Love or Hate Rightmove
Breaking News

An average rate of 6% for the first time since November – Rightmove’s weekly mortgage tracker

Headlines The average 5-year fixed mortgage rate is now 4.89%, up from 4.45% a year ago The average 2-year fixed mortgage rate is now 5.29%, up from 4.75% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.82%, up from 4.42% a year ago The average 60% LTV 5-year fixed mortgage rate is now 4.36%, up from 4.15% a year ago The average monthly mortgage payment on…
Read More
Property for sale
Estate Agent Talk

Understanding Property Valuation: A Simple Guide

Ever asked your self, “How a amazing deal is my house simply simply well worth?” Whether you’re thinking of promoting, thinking of searching for, or just simple curious, identifying a property’s rate can experience like navigating a maze without a map. Yet, do not agonize. This sincere guide will stroll you via the necessities of…
Read More
Love or Hate Rightmove
Breaking News

Aberdeen is cheapest city to be a first-time buyer

New analysis reveals that Aberdeen is the cheapest city to be a first-time buyer with an average asking price of £102,602: The average monthly mortgage payment for a first-time buyer in Aberdeen is £406 per month, assuming the buyer has a 20% deposit, and a mortgage term of 35 years Data from UK Finance shows…
Read More
Breaking News

Breaking Property News – 23/04/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Agents urged to review AML policies following recent HMRC fines Recent substantial fines issued by HMRC are a harsh reminder to agents to ensure that their Anti-Money Laundering (AML) policies are up to date, and they have control testing in place. This is according…
Read More
Breaking News

Spring activity boost pushes asking prices close to new record

The average asking price of property coming to the market rises by 1.1% (+£4,207) this month to £372,324, just £570 short of the record in May 2023, while the annual rate of price growth is now +1.7%, the highest level for 12 months: A key factor behind this growth towards a near-record average price is…
Read More