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.
You May Also Enjoy
Breaking Property News 4/06/25
Daily bite-sized proptech and property news in partnership with Proptech-X. Stanmore Contractors announces new Stanmore Design House division Stanmore Contractors, the UK’s leading specialist contractor, has today announced the launch of Stanmore Design House, a new division that will provide RIBA Stage 4 and onwards technical design services to its clients – alongside integrated…
Read More 
£200 increase in void period penalties for landlords
The latest analysis by Dwelly, one of the UK’s leading lettings acquisition and success planning experts, has found that landlords have been hit with a 26% increase in the cost of void periods in the past year, equivalent to lost income of almost £200. Dwelly analysed average void period data from March 2024 and March…
Read More 
37% of homebuyers see purchases delayed
The latest research by GetAgent Exchange, a new platform enabling agents to monetise out-of-area applicant leads, has found that whilst the majority of homebuyers also have a property to sell themselves, 41% don’t consider selling their current property until having started the viewing process for their new home, at the very least. The survey of…
Read More 
Isle of Wight best sun-seeking hotspot for homebuyers
Isle of Wight ranks as most affordable sun-seeking hotspot for homebuyers The latest research from over-50s property specialists, Regency Living, reveals that in the UK’s sunniest county, homebuyers are paying an average of £835 for every minute of daily sunshine. For some homebuyers, living in a place that offers warm weather and sunshine is a…
Read More 
Coast to city cuts property values by £4,300 per minute
Commuting from coast to city can save homebuyers as much as £4,300 per minute New research from Yopa, the full-service estate agents, has revealed where the nation’s homebuyers can secure a coastal lifestyle whilst also remaining within commutable distance of a major city, saving themselves hundreds of thousands of pounds in the process. Yopa analysed…
Read More 
Time is running out’ for property industry to take web accessibility seriously
Leading expert ahead of June 2025 regulation overhaul says ‘Time is running out’ for the property industry to take web accessibility seriously. Leading digital accessibility expert urges property sector to ‘act now’ ahead of June 2025 regulation overhaul He warns that web accessibility and inclusivity should be part of a long-term strategy and shouldn’t be…
Read More