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
Mansion tax would hit London hardest
Mansion tax would hit London hardest, as capital accounts for 66% of all homes sold above £2m so far this year The latest data insight from Enness Global has revealed that, should the Chancellor introduce a 1% annual mansion tax on properties valued over £2 million, the measure would overwhelmingly target London homeowners, with two-thirds…
Read More 
Share of first-time buyers opting for low-deposit deals rose 8.6% in October
Barclays mortgage data shows deposits under £20,000 made up 22.1 per cent of first-time buyer completions in October 60 per cent of renters say they would require financial incentives or homebuying support schemes to get onto the property ladder Confidence in the housing market dipped three percentage points to 24 per cent month-on-month, although sentiment…
Read More 
Nearly one in five potential movers waiting for Budget before resuming plans
A new Rightmove study of over 10,000 potential movers looks at how Budget speculation is affecting decisions Nearly one in five (17%) potential movers said they have paused their plans due to uncertainty about changes to property taxes in the upcoming Budget The majority (61%) of potential movers surveyed said they were aware of rumours…
Read More 
Latest ONS Private Rent and House Prices Index
Average UK monthly private rents increased by 5.0%, to £1,360, in the 12 months to October 2025 (provisional estimate); this annual growth rate is down from 5.5% in the 12 months to September 2025. Average rents increased to £1,416 (5.0%) in England, £817 (6.7%) in Wales and £1,008 (3.4%) in Scotland, in the 12 months…
Read More 
Winter property checklist: How to protect your home this season
As temperatures drop and winter approaches, Propertymark, the leading professional body for estate and letting agents, is urging homeowners and tenants to prepare their homes for the colder months with a few simple maintenance checks that can prevent costly damage and ensure safety and comfort throughout the season. According to Propertymark, winter is one of…
Read More 
London homebuyers have paid nearly £25bn in Stamp Duty over the last decade
The latest research from Jefferies London shows that, as many await news of potential Stamp Duty reform in the upcoming Autumn Budget, homebuyers across the capital have collectively paid almost £25bn (£24.9bn) in Stamp Duty over the last ten years, with buyers in prime central London contributing the largest share by a considerable margin. Jefferies…
Read More