Sub 5% rate now available in all LTV brackets except 95%

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  • 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.

Rightmove

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

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