![]() On Tuesday 7 November 2023 Average fixed-term mortgage rates for home-buyers with 5-10% deposits Loan to value (LTV)Īverage fixed-term mortgage rates for home-buyers with 15-25% deposits Loan to value (LTV)Īverage fixed-term mortgage rates for home-buyers with 40% deposits Loan to value (LTV) ![]() What are the current UK mortgage interest rates? The lowest rate for this type of mortgage is 4.97%. The current average mortgage rate for a five-year fixed, 85% loan-to-value mortgage is 5.43%, down from 5.48% last week. And after Base Rate was held at 5.25% last week, we’re likely to see mortgage rates continue to trend downwards.” Our mortgage expert, Matt Smith, says: “The most recent inflation numbers have not had any material impact on rates, and they’ve continued to slowly creep downwards. On 2 November, the Base Rate was held at 5.25%. The Bank of England (BoE) meet about every six weeks to decide whether the Base Rate should go up or down, or stay the same. There has been lots of news about Base Rate rises and how they can impact mortgage rates. ![]() What’s happening with mortgage rates now? You can also compare the rates across a range of loan to value (LTV) percentages. That’s why we update the average mortgage rates weekly and compare how they’ve changed since the previous week. Lenders change the rates of their mortgage products regularly. If you’re thinking about buying a home, you might be wondering what the current mortgage rates are in the UK.
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