In its latest mortgage tracker Rightmove reveals we have seen the lowest mortgage rate available within a Loan-To-Value (LTV) bracket dip below 5% for the first time since June (75% and 60% LTV five-year fixed mortgage).
The tracker shows the lowest rate available for a 75% LTV five-year fixed mortgage is now 4.94%.
The lowest rate available for a 60% LTV five-year fixed mortgage is now 4.94%
The average five-year fixed mortgage rate is now 5.58%, up from 4.42% a year ago.
The average two-year fixed mortgage rate is now 6.11%, up from 4.57% a year ago.
The average 85% LTV five-year fixed mortgage rate is now 5.66%, up from 4.38% a year ago.
The average 60% LTV five-year fixed mortgage rate is now 5.19%, up from 4.11% a year ago
And 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 £1,194 per month, up from £1,048 per month a year ago.
