Rightmove’s weekly mortgage tracker 22nd August 2024

August 22, 2024
Rightmove logo

Headlines

 

  • The average 5-year fixed mortgage rate is now 4.76%, down from 5.69% a year ago
  • The average 2-year fixed mortgage rate is now 5.12%, down from 6.31% a year ago
  • The average 85% LTV 5-year fixed mortgage rate is now 4.82%, down from 5.71% a year ago
  • The average 60% LTV 5-year fixed mortgage rate is now 4.03%, down from 5.31% 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 £1,109 per month, down from £1,191 per month a year ago

 

Latest rates data

 

LTV

(loan to value)

  

Term

 

 Average rate 22nd August 2024 Lowest rate 22nd August August 2024 Average rate

a year ago

 

All

 

 2 year fixed 5.12% 4.15% 6.31%
 

All

 

 5 year fixed 4.76% 3.83% 5.69%

 

 

LTV

(loan to value)

  

Term

 

 Average rate 22nd August 2024 Lowest rate 22nd August August 2024 Average rate

a year ago

 

95%

 

 2 year fixed 5.85% 5.44% 6.62%
 

95%

 

 5 year fixed 5.43% 5.09% 6.04%
 

90%

 

 2 year fixed 5.53% 5.14% 6.47%
 

90%

 

 5 year fixed 5.05% 4.59% 5.86%

 

 

 

LTV (loan to value)

  

Term

 Average rate 22nd August 2024 Lowest rate 22nd August August 2024 Average rate

a year ago

 

85%

 

 2 year fixed 5.17% 4.68% 6.36%
 

85%

 

  

5 year fixed

 

 4.82% 4.29% 5.71%
 

75%

 

  

2 year fixed

 4.88% 4.40% 6.19%
 

75%

 

  

5 year fixed

 

 4.55% 3.99% 5.55%
 

60%

 

  

2 year fixed

 

 4.38% 4.15% 6.00%
 

60%

 

  

5 year fixed

 4.03% 3.83% 5.31%

 

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 £1,109 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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