Rightmove’s weekly mortgage tracker – 24/10/24

October 24, 2024
Love or Hate Rightmove
  • The average 5-year fixed mortgage rate is now 4.64%, down from 5.39% a year ago
  • The average 2-year fixed mortgage rate is now 4.94%, down from 5.85% a year ago
  • The average 85% LTV 5-year fixed mortgage rate is now 4.65%, down from 5.47% a year ago
  • The average 60% LTV 5-year fixed mortgage rate is now 4.05%, down from 4.95% 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 £1,088 per month, down from £1,167 per month a year ago

 

 Latest rates data

 

LTV

(loan to value)

 

Term

 

Average rate 24th October 2024

Lowest rate 24th October 2024

Average rate

a year ago

 

All

 

2 year fixed

4.94%

3.94%

5.85%

 

All

 

5 year fixed

4.64%

3.77%

5.39%

 

 

LTV

(loan to value)

 

Term

 

Average rate 24th October 2024

Lowest rate 24th October 2024

Average rate

a year ago

 

95%

 

2 year fixed

5.52%

5.20%

6.26%

 

95%

 

5 year fixed

5.19%

4.90%

5.78%

 

90%

 

2 year fixed

5.34%

4.90%

6.10%

 

90%

 

5 year fixed

4.89%

4.49%

5.57%

 

 

 

LTV (loan to value)

 

Term

Average rate 24th October 2024

Lowest rate 24th October 2024

Average rate

a year ago

 

85%

 

2 year fixed

4.95%

4.47%

6.00%

 

85%

 

 

5 year fixed

 

4.65%

4.09%

5.47%

 

75%

 

 

2 year fixed

4.71%

4.14%

5.62%

 

75%

 

 

5 year fixed

 

4.45%

3.87%

5.19%

 

60%

 

 

2 year fixed

 

4.24%

3.94%

5.40%

 

60%

 

 

5 year fixed

4.05%

3.77%

4.95%

 

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 £226,868, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,088 per month if repaying over 25 years, compared with £1,167 per month a year ago (when the average first-time buyer property asking price was £224,263).

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website. As an Amazon Associate, I earn from qualifying purchases.

You May Also Enjoy

Breaking News

Breaking Property News 20/10/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Rightmove’s £1.45bn forty minute lawsuit Thought leadership by Olivier Jauniaux Founder of NestLink ‘It takes about forty minutes to find a house on Rightmove according to the portal’s own disclosure. You set the filters, you scroll, you save three, you send one to your partner with the…
Read More →
Breaking News

The six shocking ways first-time buyers are being caught out

Unexpected costs hit 70% of first-time buyers, causing rising anxiety for almost a third of people Over 60% of buyers also face mortgage rejection when finding their dream home Solicitor delays and “waiting around” among the highest drivers of anxiety and stress The First Time Buyer Anxiety Index 2026 delves into the main pain points…
Read More →
Breaking News

FTBs reveal real cost of homeownership

Six in 10 first-time buyers say getting onto the property ladder came at the expense of their quality of life From holidays and hobbies to careers and starting a family, first-time buyers reveal the true cost of homeownership New research by Yopa has revealed that 61% of first-time buyers say saving for their first home had…
Read More →
Breaking News

Supply of family-suitable homes falls across the nation

England is facing a growing shortage of large family homes, according to new analysis from UK Property Development (UKPD), creating increasing challenges for buyers leaving London in search of more space, better quality of life, and access to one of the capital’s most desirable commuter regions. UKPD analysed live property listings data* and found that,…
Read More →
Breaking News

84% of agents fear Autumn Budget anti-climax

Agents welcome first-time buyer support but 84% fear Autumn Budget housing anti-climax The latest industry insight from GetAgent.co.uk has revealed that estate agents believe first-time buyers are most in need of government support and, while the recent announcement of a new first-time buyer scheme will likely be welcomed by the industry, 84% are sceptical as…
Read More →
how to present your property for sale
Estate Agent Talk

The Budget – Residential Property

Thoughts from Lisa Wilson, Partner at law firm Spencer West LLP: “Chancellor John Healey, as many Chancellors before him, has the unenviable task of achieving balance in UK taxation and spending. Whilst there have been a few property rumours in the press, they are notably quieter than in years gone by. Over the Summer months…
Read More →