Rightmove’s weekly mortgage tracker 11th July 2024
Headlines
- The average 5-year fixed mortgage rate is now 4.97%, down from 5.91 % a year ago
- The average 2-year fixed mortgage rate is now 5.35%, down from 6.42% a year ago
- The average 85% LTV 5-year fixed mortgage rate is now 4.97%, down from 5.90% a year ago
- The average 60% LTV 5-year fixed mortgage rate is now 4.35%, down from 5.78% 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 £1,128 per month, down from £1,228 per month a year ago
Latest rates data
| LTV
(loan to value) |
Term
|
Average rate 11th July 2024 | Lowest rate 11th July 2024 | Average rate
a year ago |
|
95%
|
2 year fixed | 6.12% | 5.54% | 6.93% |
|
95%
|
5 year fixed | 5.67% | 5.24% | 6.23% |
|
90%
|
2 year fixed | 5.63% | 5.19% | 6.51% |
|
90%
|
5 year fixed | 5.14% | 4.75% | 5.99% |
|
LTV (loan to value) |
Term |
Average rate 11th July 2024 | Lowest rate 11th July 2024 | Average rate
a year ago |
|
85%
|
2 year fixed | 5.36% | 4.89% | 6.40% |
|
85%
|
5 year fixed
|
4.97% | 4.54% | 5.90% |
|
75%
|
2 year fixed |
5.18% | 4.72% | 6.24% |
|
75%
|
5 year fixed
|
4.82% | 4.36% | 5.73% |
|
60%
|
2 year fixed
|
4.78% | 4.63% | 6.24% |
|
60%
|
5 year fixed |
4.35% | 4.20% | 5.78% |
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 £227,757, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,128 per month if repaying over 25 years, compared with £1,228 per month a year ago (when the average first-time buyer property asking price was £226,412).
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
Money and Credit – October 2025
Federation of Master Builders Hosts Reform Deputy Leader on Build Up from the Basement Podcast
Enhancing Project Presentation with 3D Rendering Services
House prices fall for the first time in 18 months across southern England
Rightmove trialling new Renovation Cost Estimator
