Rightmove’s weekly mortgage tracker 17/4/24
April 17, 2024
Headlines
- The average 5-year fixed mortgage rate is now 4.84%, up from 4.45% a year ago
- The average 2-year fixed mortgage rate is now 5.23%, up from 4.77% a year ago
- The average 85% LTV 5-year fixed mortgage rate is now 4.77%, up from 4.46% a year ago
- The average 60% LTV 5-year fixed mortgage rate is now 4.29%, up from 4.13% 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 £1,099 per month, up from £1,056 per month a year ago
Latest rates data
| LTV
(loan to value) |
Term
|
Average rate 17th April 2024 | Lowest rate 17th April 2024 | Average rate
a year ago |
|
95%
|
2 year fixed | 5.98% | 5.47% | 5.48% |
|
95%
|
5 year fixed | 5.52% | 5.09% | 5.04% |
|
90%
|
2 year fixed | 5.50% | 5.13% | 5.07% |
|
90%
|
5 year fixed | 5.03% | 4.64% | 4.69% |
|
LTV (loan to value) |
Term |
Average rate 17th April 2024 | Lowest rate 17th April 2024 | Average rate
a year ago |
|
85%
|
2 year fixed | 5.21% | 4.86% | 4.83% |
|
85%
|
5 year fixed
|
4.77% | 4.38% | 4.46% |
|
75%
|
2 year fixed |
5.04% | 4.59% | 4.56% |
|
75%
|
5 year fixed
|
4.69% | 4.36% | 4.25% |
|
60%
|
2 year fixed
|
4.67% | 4.46% | 4.46% |
|
60%
|
5 year fixed |
4.29% | 4.13% | 4.13% |
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 £1,099 per month if repaying over 25 years, compared with £1,056 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
Applicant budgets remain stable and rental prices in line with historic norms
Ratio of new renters per instruction rose by 5.1% from 8.9 to 9.4 applications per instruction. Average rental prices declined by 4% in November 2025, remaining closely aligned with November levels observed over the past four years. Year-to-date, average rental prices are 2% higher in 2025 compared to 2024. New data from Foxtons, London’s…
Read More 
The Impact of Increasing Lease Conversions on Estate Agents in 2026
2026 is shaping up to be a watershed year for the property market. Economic pressures, shifting demand and regulatory changes are converging to create a surge in lease conversion applications. For estate agents, this “perfect storm” will reshape the portfolios they manage and redefine their role in advising landlords. Mustafa Sidki of the construction team…
Read More 
First-time buyers help drive the most home moves for three years
Zoopla forecasts 1.5% house price growth for 2026 Housing sales hit 1.2 million over 2025 despite Q4 Budget slowdown More sales doesn’t mean faster price growth – house prices rise just 1.1 per cent (vs 1.9 per cent in 2024) The hottest markets for price growth across Britain are the Scottish Borders (TD postal area…
Read More 
Mortgage Lending Statistics – December 2025
Latest findings The outstanding value of all residential mortgage loans increased by 0.9% from the previous quarter to £1,733.7 billion, and was 2.9% higher than a year earlier. The value of gross mortgage advances increased by 36.9% from the previous quarter to £80.4 billion, the largest increase in new advances since 2020 Q3, and was…
Read More 
Bank of England interest rates decision – Thoughts from the Industry
The Bank of England has just announced its decision to cut the base rate to 3.75%, the first cut seen since August of this year. This decision comes after inflation (CPI) dropped to 3.2% in November (from 3.6% in October), slowly edging towards the Bank’s 2.0% target. The Monetary Policy Committee voted 5-4 in favour…
Read More 
A Winter Rate Cut to Thaw the Market
By Kevin Shaw, National Sales Managing Director, LRG Today’s reduction in interest rates is very welcome news – for homeowners, buyers, property professionals, and no doubt Government ministers. This warming news is set against a chilly backdrop: unemployment has increased to 5.1%, while the November Budget tightened the fiscal screws. Inflation, however, has eased to…
Read More