Rightmove’s Weekly Mortgage Tracker 10/4/24
April 10, 2024
Headlines
- The average 5-year fixed mortgage rate is now 4.84%, up from 4.49% a year ago
- The average 2-year fixed mortgage rate is now 5.22%, up from 4.82% a year ago
- The average 85% LTV 5-year fixed mortgage rate is now 4.79%, up from 4.50% a year ago
- The average 60% LTV 5-year fixed mortgage rate is now 4.33%, up from 4.17% 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 £1,101 per month, up from £1,060 per month a year ago
Latest rates data
| LTV
(loan to value) |
Term
|
Average rate 9th April 2024 | Lowest rate 9th April 2024 | Average rate
a year ago |
|
95%
|
2 year fixed | 5.97 % | 5.39 % | 5.52% |
|
95%
|
5 year fixed | 5.51 % | 5.07 % | 5.06% |
|
90%
|
2 year fixed | 5.47% | 5.13% | 5.12% |
|
90%
|
5 year fixed | 4.99% | 4.64% | 4.75% |
|
LTV (loan to value) |
Term |
Average rate 9th April 2024 | Lowest rate 9th April 2024 | Average rate
a year ago |
|
85%
|
2 year fixed | 5.21% | 4.86% | 4.88% |
|
85%
|
5 year fixed
|
4.79% | 4.38% | 4.50% |
|
75%
|
2 year fixed |
5.04% | 4.59% | 4.60% |
|
75%
|
5 year fixed
|
4.71% | 4.36% | 4.28% |
|
60%
|
2 year fixed
|
4.68% | 4.46% | 4.50% |
|
60%
|
5 year fixed |
4.33% | 4.13% | 4.17% |
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 £226,370, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,101 per month if repaying over 25 years, compared with £1,060 per month a year ago.
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.
You May Also Enjoy
Bailey applies the brakes but ‘two more 2026 cuts priced in’
Vote to hold rates ‘closer than expected’ as Bank of England eyes April for 2% inflation target Focus turns to US and Japan in impact they play on shape of global investment flows says Rathbones’ Head of Market Analysis Kirsten Pettigrew, Senior Financial Planner, warns of making financial decisions based on speculation around rate trajectories…
Read More 
Bank of England to hold interest rates at 3.75%
Following the Bank of England’s decision to hold interest rates at 3.75%, here are some thoughts from the Industry. Matt Smith, Rightmove’s mortgages expert says: “Today’s Bank Rate hold was widely expected given underlying inflation and wage growth data, and it’s currently likely we’ll see the next Bank Rate cut in June. Average mortgage rates…
Read More 
Building Safety Approval Process Urgently Needs Fixing
Bradley Lay, a Leading Construction M&A Expert Calls on Government to Urgently Fix Building Safety Approval Process as Insolvencies Surge A leading UK construction expert has called on the Government to urgently reassess the Building Safety Regulator (BSR) approval process, warning that delays in the current system are “slowly killing the economy”, triggering thousands of…
Read More 
Kickstarting Private Housebuilding is Key to Sector-Wide Recovery
Starts on-site decline by 9% during the three months to January 2026, remaining 16% below 2025 levels Residential construction starts fell by 24% on the preceding three months and 32% against 2025 figures Non-residential project-starts increased by 6% against the preceding three months, finishing 7% up on a year ago Civils work starting on-site remained…
Read More 
Building the Wrong Homes Won’t Fix Homeownership
For many years, the national discussion about affordable housing has focused on one appealing idea that simply building more houses will make it easier for first-time buyers to own a home, and the issue will fix itself. However, Propertymark’s member agents, working daily in local housing markets across the UK, see a far more complex…
Read More 
Compliance uncertainty leaves lift fire safety exposed in property sector
As the FM industry continues to adjust to an evolving regulatory landscape, new research indicates that widespread uncertainty and fragmented record-keeping could be undermining lift fire safety compliance, weakening building fire strategies. Last month, the Building Safety Regulator (BSR) became a standalone public body, separating from the Health and Safety Executive to provide a more…
Read More