Rightmove’s weekly mortgage tracker – 29/11/2023
November 29, 2023
- The average 5-year fixed mortgage rate is now 5.14%, down from 5.52% a year ago
- The average 2-year fixed mortgage rate is now 5.56%, down from 5.77% a year ago
- The average 85% LTV 5-year fixed mortgage rate is now 5.22%, down from 5.54% a year ago
- The average 60% LTV 5-year fixed mortgage rate is now 4.55%, down from 5.26% 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 £1,135 per month, down from £1,173 per month a year ago
Latest rates data
| LTV
(loan to value) |
Term
|
Average rate 28th November 2023 | Lowest rate 28th November 2023 | Average rate
a year ago |
|
95%
|
2 year fixed | 5.96% | 5.85% | 6.22% |
|
95%
|
5 year fixed | 5.50% | 5.30% | 5.89% |
|
90%
|
2 year fixed | 5.79% | 5.39% | 6.04% |
|
90%
|
5 year fixed | 5.29% | 4.89% | 5.74% |
|
LTV (loan to value) |
Term |
Average rate 28th November 2023 | Lowest rate 28th November 2023 | Average rate
a year ago |
|
85%
|
2 year fixed |
5.69% |
5.23% |
5.81% |
|
85%
|
5 year fixed
|
5.22% |
4.71% |
5.54% |
|
75%
|
2 year fixed |
5.39% |
4.90% |
5.58% |
|
75%
|
5 year fixed
|
5.05% | 4.46% | 5.31% |
|
60%
|
2 year fixed
|
4.90% | 4.75% | 5.52% |
|
60%
|
5 year fixed |
4.55% | 4.36% | 5.26% |
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 £223,426, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,135 per month if repaying over 25 years, compared with £1,173 per month a year ago.
You May Also Enjoy
Mansion Tax on Homes over £2 million
Comment on Mansion Tax being introduced for homes over £2 million and £5 million from April 2028 Colleen Babcock, Rightmove’s property expert says: “The property market needs less taxation not more, to encourage and enable movement. Today’s announcement of a Mansion Tax could lead to some distortion at the top end of the market, particularly…
Read More 
Autumn Budget 2025: Property Industry Reacts
The Autumn Budget has confirmed a series of major housing and property tax reforms that will reshape the market over the coming years. The measures place particular emphasis on higher value homes, revised council tax structures and long term planning reform. Below is a breakdown of the announcements that directly affect the property market, together…
Read More 
Solutions to fix construction skills
The Centre for Social Justice (CSJ) has released a report titled, ‘Skills to Build: Fixing Britain’s construction workforce crisis.’ After speaking to several organizations and having roundtables to garner a wide understanding of the sectors’ perspectives and needs, they have proposed twenty six recommendations that will fix the issues underpinning the skills crisis. Richard Beresford,…
Read More
Budget Commentary – Mansion Tax, Business Rates & Planning Reform
Andrew Teacher, Co-founder at LauderTeacher, one of the UK’s leading advisors on real estate communications, investor relations and a former spokesman for the BPF, comments on the potential Budget. Mansion tax “Nobody likes paying tax, but the reality is a council tax revaluation is long overdue. Rather than distorting the market, which is what a…
Read More
Budget 2025 market data & home-mover and agent insight
Speculation about property tax changes is fuelling uncertainty across much of the market Rightmove research found that home-movers would favour staggered stamp duty payments, while a poll of estate agents also suggested that staggered payments would be a preferable change to shifting payment to the seller Rightmove data on rumoured property tax changes Mansion Tax…
Read More 
Breaking Property News 24/11/25
Daily bite-sized proptech and property news in partnership with Proptech-X. Symple resolves four core issues in the new Renter’s Rights Act Automating compliance in the new PRS landscape The Renters’ Rights Act has raised the bar for private landlords in England in terms of property condition, hazard resolution, evidence of compliance and regulatory registration. Symple…
Read More