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

Breaking News

70% of Britain’s housing market is in recovery with prices trending upwards

The latest research from Yopa reveals that 70% of the British housing market is now in recovery with prices trending upwards following the challenging conditions of the past two years. This is despite the broader national picture showing that average house prices have edged down over the last six months. Yopa analysed six months of…
Read More →
Breaking News

Breaking Property News 12/3/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   ‘The actual work, making smart procurement decisions, protecting the owner’s budget was buried under a mountain of emails and calls’ Rihards Trops CEO of TenderPro   Every property manager knows the feeling. You need to find a contractor, get three comparable quotes, coordinate site visits,…
Read More →
Breaking News

Renters’ Rights Act already driving surge in tenant complaints

“Renters’ Rights effect” drives unprecedented demand dispute resolution Industry redress scheme flooded with enquiries ahead of Act going live in May   THE IMPENDING implementation of the Renters’ Rights Act has already led to unprecedented demand for The Property Ombudsman’s services, as more tenants seek support to resolve disputes fairly and independently. In the four…
Read More →
Breaking News

Rights Act: Key changes renters need to know — new rules start on 1 May 2026

The Renters’ Rights Act is a major overhaul of the rules that govern renting in England, the biggest in decades. Propertymark, the UK’s leading body for property professionals, wants renters to understand what’s coming and how it will affect them. The next wave of changes under the Act will take effect on 1 May 2026.…
Read More →
Breaking News

What Would Make Me Stay: How Tenants Are Redefining What Home Really Means

68% of tenants say the single biggest factor that would make them stay in their rental home long term is the relationship with their landlord or agent, above rent levels, location, or the quality of the property itself. That is the headline finding from LRG’s Winter 2025/26 Lettings Report, and it points to something the…
Read More →
Breaking News

Competition for rented homes falls to lowest level in six years

More homes for rent and a drop in demand eases the pressure on renters Competition for rental homes falls to six year low with 4.8 enquiries per property Increased supply sees the number of homes available for rent up 11% on last year Meanwhile demand for rental properties falls 14% year-on-year on lower migration and…
Read More →