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
Britain’s equestrian homes average value of £1.3m
South East accounts for one in five opportunities The latest research from LandSale, the property portal dedicated to land and rural property, has found that those inspired to enter the equestrian world following Royal Ascot this week will need a budget of £1.265m in order to get started, with the South East home to the…
Read More 
Interest-only mortgage stock reduces by 17 per cent in 2025
Key points: There were 445,000 pure interest-only homeowner mortgages outstanding at the end of 2025, 17.7 per cent fewer than in 2024. In addition there were 156,000 partial interest-only (part and part) homeowner mortgages outstanding at the end of 2025, 10.3 per cent fewer than in 2024. The total interest-only mortgage stock (including part and…
Read More 
5 building materials that give home sellers nightmares
The latest market insight from House Buyer Bureau has highlighted five building materials that can be a nightmare for homeowners, as they severely impact a property’s value, make it difficult to mortgage, and can prevent them from securing a buyer. House Buyer Bureau analysed some of the most problematic building materials found within UK homes,…
Read More 
UK House Price Index for April 2026
The latest UK House Price Index for April 2026 shows that: The average monthly rate of UK house price growth in April was +0.7%. Average UK house price annual inflation was 3.8% in the 12 months to April 2026. As a result, the average UK house price currently sits at £270,080. Here is how…
Read More 
Private rent and house prices, UK: June 2026
Main points Average UK monthly private rent inflation continued to slow, increasing by 3.3%, to £1,383, in the 12 months to May 2026 (provisional estimate); this annual growth rate is down from 3.5% in the 12 months to April 2026. Average rents increased to £1,442 (3.4%) in England, £836 (4.7%) in Wales, and £1,009 (1.0%)…
Read More 
A decade of change in Britain’s rental market
Rental stock rises in England but falls in Scotland and Wales as rents increase by 45% over the last decade New research by LegalforLandlords reveals that Britain’s private rented sector (PRS) has grown by an estimated 6.6% over the past decade. However, while rental stock has increased overall, significant regional differences have emerged across England,…
Read More