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
Rural housing markets in full bloom
Rural housing markets in full bloom with price growth of up to 9.6% Countryside locations outperforming urban areas and the overall national average As the country basks in spring sunshine, it comes as no surprise that new research from Yopa has revealed rural housing markets are enjoying hotter market conditions than their urban counterparts, with…
Read More 
ProvenDeals: The Smarter Way to Manage, Find, and Close Property Deals
If you’re a landlord, property investor, or deal sourcer, you’ve probably noticed something… The current system is broken. • Landlords are paying high management fees that eat into profit • Investors spend hours digging through low-quality, unverified deals • Deal sourcers struggle to find serious buyers who can actually close Everyone is busy. But not…
Read More 
Breaking Property News 6/5/26
Daily bite-sized proptech and property news in partnership with Proptech-X. Commercial property data – who owns it? Commercial real estate is rushing toward AI, automation, and smart building technology. But there’s a critical question many owners still aren’t asking: Who actually owns the building’s data? Across commercial property portfolios, valuable operational data is generated…
Read More 
Demand for qualifications doubles as Rightmove helps agents get ahead of reform
New data reveals a jump in estate and letting agents looking to get qualified, with Rightmove exam bookings more than doubling (+128%) compared to last year Leading property industry body Propertymark has seen a 51% uplift in demand for qualifications since April 2020, highlighting a long-term shift in the industry wanting formal qualifications The insight…
Read More
Breaking Property News 5/5/26
Daily bite-sized proptech and property news in partnership with Proptech-X. New AI Real Estate Market Intelligence Platform Launches in the U.S. Press Release – New York, May 2026 — Rodland Real Estate, a leading independent brokerage headquartered in The Bahamas, has announced the U.S. launch of RoRo, an advanced AI-powered real estate market intelligence…
Read More 
Mortgage affordability at tightest level since 2008
UK Finance has today published a new Lending Where We Live report, revealing sharp differences in mortgage affordability and buy‑to‑let returns across the UK. Key findings 723,000 house purchase mortgages advanced in 2025, up 17 per cent year-on-year Average borrower spends 21.3 per cent of gross income on repayments Significant regional differences: North Norfolk and Hillingdon top the list with borrowers spending over 25 per cent of gross income Seven…
Read More