Rightmove’s weekly mortgage tracker 11th July 2024

July 11, 2024
Rightmove logo

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.

Rightmove

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

You May Also Enjoy

Estate Agent Talk

Dolphin v Beauchamp Estates v Hudsons – Elite Apartment Rental Options in London SW1

London has long been known as a potpourri of diverse cultures, lending it a whimsical charm while being a major global hub. Renowned for its juxtaposition between modernity and royal heritage, it’s a unique blend of ancient landmarks and contemporary living. You’ll find avant-garde architecture sitting comfortably alongside historic streets and vibrant neighbourhoods. While the…
Read More →
Christmas Decorations - Good or Bad for Selling
Breaking News

Stay secure this Christmas: Home security tips for high-value homes

High value home insurance specialists, Stanhope, are warning homeowners to be especially careful this Christmas. “It’s a busy time for everyone, including burglars,” says Director, Matthew Ashton, who highlights why high value homes are particularly vulnerable and what to do about it. “High value homes are easy to identify thanks to tell-tale signs of wealth…
Read More →
Letting Agent Talk

Six months on: How the new anti money laundering regulations are reshaping the lettings market

Six months have passed since the anti-money laundering (AML) rules came into effect, bringing mandatory financial sanctions checks into every area of the lettings market. When the changes were first introduced, many landlords were surprised by the breadth and immediacy of the requirements. Half a year on, the sector is now seeing how the industry…
Read More →
Breaking News

Private rent and house prices, UK: December 2025

Main Points Average UK monthly private rents increased by 4.4%, to £1,366, in the 12 months to November 2025 (provisional estimate); this annual growth rate is down from 5.0% in the 12 months to October 2025. Average rents increased to £1,422 (4.4%) in England, £820 (6.1%) in Wales, and £1,012 (3.3%) in Scotland, in the…
Read More →
Breaking News

Breaking Property News 17/12/25

Daily bite-sized proptech and property news in partnership with Proptech-X. How to get Proptechs from MVP to EXIT Reporter Zara S. Proptech has spent years trying to prove its relevance to the property industry. New platforms appear daily, capital flows in cycles, and “disruption” is promised more often than it is delivered. What is far less…
Read More →
Estate Agent Talk

Why Real Estate Pros Should Care About the RoHS Directive in Smart Home Tech

Some of the tasks that real estate pros perform nowadays include negotiating and posting, and checking houses on property listings. You also have to deal with buyers who expect “smart-everything,” landlords who want long-term reliability, and tenants who care about safety and sustainability. In the middle of these expectations, there’s rohs directive. Why should you…
Read More →