Rightmove’s weekly mortgage tracker – 31/10/24

October 31, 2024
Rightmove logo

 

  • The average 5-year fixed mortgage rate is now 4.64%, down from 5.36% a year ago
  • The average 2-year fixed mortgage rate is now 4.91%, down from 5.81% a year ago
  • The average 85% LTV 5-year fixed mortgage rate is now 4.66%, down from 5.44% a year ago
  • The average 60% LTV 5-year fixed mortgage rate is now 4.04%, down from 4.94% 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 £1,089 per month, down from £1,164 per month a year ago

 

Latest rates data

 

LTV

(loan to value)

  

Term

 

 Average rate 31st October 2024 Lowest rate 31st October 2024 Average rate

a year ago

 

All

 

 2 year fixed 4.91% 3.96% 5.81%
 

All

 

 5 year fixed 4.64% 3.84% 5.36%

 

 

LTV

(loan to value)

  

Term

 

 Average rate 31st October 2024 Lowest rate 31st October 2024 Average rate

a year ago

 

95%

 

 2 year fixed 5.56% 5.20% 6.24%
 

95%

 

 5 year fixed 5.23% 4.90% 5.76%
 

90%

 

 2 year fixed 5.35% 4.87% 6.05%
 

90%

 

 5 year fixed 4.89% 4.49% 5.51%

 

 

 

LTV (loan to value)

  

Term

 Average rate 31st October 2024 Lowest rate 31st October 2024 Average rate

a year ago

 

85%

 

 2 year fixed 4.93% 4.47% 5.96%
 

85%

 

  

5 year fixed

 

 4.66% 4.09% 5.44%
 

75%

 

  

2 year fixed

 4.69% 4.11% 5.57%
 

75%

 

  

5 year fixed

 

 4.46% 3.89% 5.16%
 

60%

 

  

2 year fixed

 

 4.17% 3.96% 5.37%
 

60%

 

  

5 year fixed

 4.04% 3.84% 4.94%

 

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 £1,089 per month if repaying over 25 years, compared with £1,164 per month a year ago (when the average first-time buyer property asking price was £224,263).

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.

Rightmove

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

You May Also Enjoy

Home and Living

Signs of Outdated Wiring in Older Tulsa-Area Homes

Tulsa has a lot of beautiful older homes. Brookside bungalows, Maple Ridge tudors, the postwar neighborhoods that fill out Midtown and East Tulsa. They were built well, but most were built before central air, before microwaves, before two-car households with two laptops and a dozen phone chargers. The electrical systems inside them were designed for…
Read More →
LIVING BY THE SEASIDE 2022
Breaking News

Britain’s seaside price hotspots revealed

New analysis from the UK’s largest property platform Rightmove reveals Britain’s seaside hotspots where prices are rising the fastest Bootle in Merseyside leads the way, with average asking prices up 11% year-on-year, followed by Crosby in Liverpool (+9%) and Penarth in South Glamorgan (+9%) Other coastal locations including Llantwit Major in South Glamorgan (+8%) and Llanelli, in Carmarthenshire (+7%) are also seeing strong price growth Average asking prices are currently 0.3% lower in Great Britain compared to last year, with some seaside hotspots outpacing the…
Read More →
Estate Agent Talk

Hertfordshire emerges as strongest performing London commuter county

New research from UK Property Development reveals that while London property prices fell by more than -3% in the past year, prices in some of the capital’s surrounding counties have enjoyed positive growth, none more so than the premium commuter county of Hertfordshire.   In the past year, London’s average house price has fallen by…
Read More →
Estate Agent Talk

Second homes losing appeal among the rich

New Survey Reveals Ongoing Maintenance Is the Biggest Barrier to Second Home Ownership   62% say upkeep and hassle would stop them from buying a second home, even if money were no object   A new survey conducted by luxury co-ownership platform Equity Residences has revealed that the practical realities of owning a second home…
Read More →
Letting Agent Talk

How to build a property portfolio with buy-to-let mortgages

One of the reasons property is such a popular asset choice for investors is that you don’t need to invest all the money yourself; you can leverage funds from the bank. Here’s a very simplistic example of how borrowing via a buy-to-let (BTL) mortgage allows you to multiply your returns versus owning a property all-cash:…
Read More →
Home and Living

2026’s Fastest-Growing Bathroom Trend Is the Wet Room

“Wet rooms have become one of the standout bathroom upgrades of 2026, moving from luxury extra to everyday renovation choice as more homeowners prioritise space, style and easy cleaning. The momentum is only building as spa‑style bathrooms stay in demand.” “Wet rooms used to be a niche request,” says Ant Langston, Marketing Manager at Heat…
Read More →