According to the latest Rightmove mortgage pricing data, the average two-year fixed rate at 95% LTV is 6.02%, with the lowest rate coming to 5.47%. This compares to an average rate of 5.48% a year ago.
The average five-year fixed rate at 95% LTV is 5.55%, and the cheapest rate is 5.09%. The average rate a year ago was 5.1%.
At 90% LTV, the average two-year fixed rate is 5.54%, with the five-year fixed rate coming to 5.08%. The lowest rates were 5.13% for a two-year fixed rate and 4.64% for a five-year fixed rate.
The average rates at 90% LTV last year were 5.03% for a two-year fixed rate and 4.67% for a five-year fixed rate.
The report stated that the overall average five-year fixed mortgage rate is 4.89%, up from 4.45% a year ago, while the average two-year fixed mortgage rate is 5.29%, a rise from 4.75% last year.
At 60% LTV, the average two-year fixed rate stands at 4.74%, and the bottom-most rate is 4.46%. The average rate this time last year was 4.48%.
The average five-year fixed rate at this LTV is 4.36%, and the lowest rate is 4.13%. The average rate in the same period last year was 4.15%.
Going up to 75% LTV, the average two- and five-year fixed rates stand at 5.12% and 4.76%, with the lowest rates coming to 4.65% and 4.36% respectively. The average two- and five-year fixed rates at this LTV this time last year were 4.55% and 4.24%.
Within 85% LTV, the average two-year fixed rate is 5.26%, with the lowest rate coming to 4.86%. The average five-year fixed rate is 4.82%, and the bottom-most rate is 4.38%. The average rates in the same period last year were 4.76% for a two-year fixed rate and 4.42% for a five-year fixed rate.
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 £1,108 per month, up from £1,054 per month a year ago.
