Rightmove’s weekly mortgage tracker – 31/10/24
October 31, 2024
- 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.
You May Also Enjoy
Council funding to crack down on rogue landlords
English councils are set to receive additional funding and training to help tackle rogue landlords, ahead of taking on new responsibilities when renters’ rights reforms come into force next month. All 317 local authorities in England will share £41 million in funding, building on an earlier £18 million allocation made last autumn. The funding is…
Read More 
Fewer than 1 in 5 new properties securing buyer
New-build demand remains subdued as fewer than 1 in 5 homes find buyers in Q1 2026 The latest New-Build Stock and Demand Index from Property Inspect has found that demand for new-build homes remained subdued in the first quarter of 2026, with fewer than one in five new properties securing a buyer. New-build stock levels…
Read More 
Top five AML red flags in UK property transactions
Cash-heavy and internationally supported purchases continue to shape the UK market New data from client due diligence platform Thirdfort reveals the most common anti-money laundering (AML) red flags identified in UK property transactions. Analysis of more than 415,000 completed Source of Funds (SoF) checks shows that the top five red flags are: Savings mismatch – 43.04% Gifted…
Read More 
Discover Northern Ireland’s top emerging investment hotspots
Derry/ Londonderry and Fermanagh named Northern Ireland’s top emerging investment hotspots Northern Ireland’s emerging investment hotspots are delivering compelling opportunities for landlords in 2026, with new research from Belfast-based estate agency John Minnis revealing a shift in where investors are finding the strongest returns. Drawing on insights from the latest John Minnis Investment Guide, the…
Read More 
Breaking Property News 13/4/26
Daily bite-sized proptech and property news in partnership with Proptech-X. Why customisation matters more than capability Thought Leadership by Wes Snow CEO & Co-founder of Ascendix Technologies ‘There’s a persistent misconception that success with Artificial Intelligence comes down to selecting the most advanced or sophisticated tool. In reality, that’s not where the value lies. The real…
Read More
First-time buyers pay extra £307m in stamp duty since relief ended
New Rightmove analysis reveals that since the end of the temporary relief measure in April 2025, first-time buyers in England have paid an estimated £307 million extra in stamp duty, averaging £4,618 more per buyer: The total estimated first-time buyer stamp duty bill over the past year was £408 million, versus £101 million the previous year In April 2025 the first-time buyer stamp duty threshold was lowered from £425,000 to £300,000. Before the change 62% of homes for sale were stamp-duty free for first-time buyers and that has…
Read More