Rightmove’s weekly mortgage tracker – 28/02/24

February 28, 2024
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  • The average 5-year fixed mortgage rate is now 4.80%, up from 4.59% a year ago
  • The average 2-year fixed mortgage rate is now 5.15%, up from 4.92% a year ago
  • The average 85% LTV 5-year fixed mortgage rate is now 4.73%, up from 4.64% a year ago
  • The average 60% LTV 5-year fixed mortgage rate is now 4.30%, up from 4.25% 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 £1,087 per month, up from £1,070 per month a year ago

 

 

Latest rates data

 

LTV

(loan to value)

 

Term

 

Average rate 28th February 2024

Lowest rate 28th February 2024

Average rate

a year ago

 

95%

 

2 year fixed

5.79%

5.15%

5.58%

 

95%

 

5 year fixed

5.38%

4.85%

5.11%

 

90%

 

2 year fixed

5.38%

4.99%

5.29%

 

90%

 

5 year fixed

4.93%

4.55%

4.83%

 

 

 

LTV (loan to value)

 

Term

Average rate 28th February 2024

Lowest rate 28th February 2024

Average rate

a year ago

 

85%

 

2 year fixed

5.14%

4.67%

4.98%

 

85%

 

 

5 year fixed

 

4.73%

4.32%

4.64%

 

75%

 

 

2 year fixed

4.99%

4.40%

4.68%

 

75%

 

 

5 year fixed

 

4.70%

4.23%

4.37%

 

60%

 

 

2 year fixed

 

4.62%

4.38%

4.56%

 

60%

 

 

5 year fixed

4.30%

4.09%

4.25%

 

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 £1,087 per month if repaying over 25 years, compared with £1,070 per month a year ago.

Rightmove

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

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