Sub 5% rate now available in all LTV brackets except 95%
November 17, 2023
- The average 5-year fixed mortgage rate is now 5.17%, down from 5.67% a year ago
- The average 2-year fixed mortgage rate is now 5.62%, down from 5.93% a year ago
- The average 85% LTV 5-year fixed mortgage rate is now 5.21%, down from 5.66% a year ago
- The average 60% LTV 5-year fixed mortgage rate is now 4.69%, down from 5.35% 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 £1,134 per month, down from £1,186 per month a year ago
Latest rates data
| LTV
(loan to value) |
Term
|
Average rate 17th November 2023 | Lowest rate 17th November 2023 | Average rate
a year ago |
|
95%
|
2 year fixed | 6.06% | 5.85% | 6.34% |
|
95%
|
5 year fixed | 5.58% | 5.30% | 6.01% |
|
90%
|
2 year fixed | 5.86% | 5.43% | 6.14% |
|
90%
|
5 year fixed | 5.34% | 4.92% | 5.90% |
|
LTV (loan to value) |
Term |
Average rate 17th November 2023 | Lowest rate 17h November 2023 | Average rate
a year ago |
|
85%
|
2 year fixed |
5.71% |
5.35% |
5.95% |
|
85%
|
5 year fixed
|
5.21% |
4.77% |
5.66% |
|
75%
|
2 year fixed |
5.43% |
4.93% |
5.75% |
|
75%
|
5 year fixed
|
5.04% | 4.58% | 5.47% |
|
60%
|
2 year fixed
|
5.09% | 4.78% | 5.63% |
|
60%
|
5 year fixed |
4.69% | 4.48% | 5.35% |
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 £223,426, for someone taking out an average five-year fixed, 85% LTV mortgage, is now £1,134 per month if repaying over 25 years, compared with £1,186 per month a year ago.
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