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 14/7/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   REVIEW: The Future of Real Estate Education: From Pedagogy to Technology Author Mr. Hugh Kelly, Ph.D., CRE Emeritus   Edited by Karen M. McGrath, Elaine M. Worzala, and Pernille H. Christensen. (Routledge, New York and London, 2026). 330 pp. ISBN 9781032625041. Paperback $70.99; hardcover $170.00; ebook…
Read More →
Breaking News

Why 2026 is redefining responsibility in the private rented sector

The landlord rulebook has changed  Insurance experts warn that understanding where landlord obligations end and tenant responsibilities begin has never been more important, following the biggest legislative shake-up of the rental market in a generation. The implementation of the Renters’ Rights Act on 1st May 2026 has transformed the relationship between landlords and tenants, introducing…
Read More →
Breaking News

Mortgage demand slowed in Q2

Mortgage demand softened as anticipated in the second quarter due to affordability pressures exacerbated by rising borrowing costs, Stonebridge reveals today. However, mortgage rates remain tricky to accurately predict while borrowers face being wrong-footed by renewed clashes in the Gulf, which sent oil prices and inflation expectations higher last week. Stonebridge mortgage and protection network’s…
Read More →
Breaking News

Prime London buyer demand strengthens in Q2

aThe latest Prime London Demand Index by London lettings and estate agent, Benham and Reeves, reveals that buyer demand across London’s prime property market strengthened during the second quarter of 2026, with overall demand reaching 14.5%. The capital’s family-focused prime neighbourhoods continued to lead the way, with Clapham, Wandsworth, and Chiswick among the strongest performing…
Read More →
Breaking News

Mortgage rates fall at fastest pace in almost two years

Moneyfacts UK Mortgage Trends Treasury Report data reveals fixed mortgage rates have recorded their biggest monthly reductions since October 2024. Product choice rose and the churn of mortgage deals was stable. Fixed mortgage rates dropped for a consecutive month, citing the biggest monthly reductions since October 2024, with the average two- and five-year fixed rates…
Read More →
Breaking News

Breaking Property News 13/7/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   How Prevou created the world’s most enthusiastic salesperson for estate agents   A fly on the wall analysis of how and why successful technology companies solve big problems for small estate agencies in the UK Every successful business starts with a problem. For Prevou, that…
Read More →