Average mortgage rate is 4.78% (5-year fixed with 25% deposit)... Latest figures right here 📊
📸 Lead image FOR SALE by Cavendish Residential: Beautifully presented two bedroom semi detached house. Sought after location of Sherwood | Guide price £242,995 📸
Latest UK mortgage rates from Rightmove 🧮
📉 There has been lots of news about Base Rate rises and how they can impact mortgage rates
📉 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.
Base rate reduced from 5.25% to 5%, that's the first cut in last 4 years! 🪓
📉 A further cut to Base Rate has been forecasted by the end of the year
📉 And by December 2028, it could fall to about 3.25%
💳 The current average mortgage rate for a 5-year fixed rate mortgage is 4.78%, down from 4.8% last week. The current average rate for a 2-year fixed rate mortgage is 5.14%, down from 5.18% last week
💳 The lowest available 2-year fixed rate is 4.19%
💳 The lowest available 5-year fixed rate mortgage is now 3.83% (for 60% LTV), which is the lowest a 5-year fixed rate has been since before the mini-Budget in September 2022
Average First-time Buyer example in numbers
🔸 The current average asking price of a typical first-time buyer property* is £227,191
🔸 For someone taking out an average 5-year fixed, 85% LTV mortgage, the average monthly mortgage repayment on this type of home is now £1,112 per month if repaying over 25 years
🔸 Compared with £1,198 per month a year ago (when the average first-time buyer property asking price was £223,614)
For more information on mortgages and to find out how much you could borrow, contact Emma (emma.travers@cavendishproperty.co.uk) and she'll put you in touch with a no-fee specialist 📧
📸 Emma Travers, Head of Sales, Lettings and Investments at Cavendish Residential 📸
📸 Lead image FOR SALE by Cavendish Residential: Beautifully presented two bedroom semi detached house. Sought after location of Sherwood | Guide price £242,995 📸
☎📧🗨
🌟 Instant online valuation (immediate response, 60-70% accurate)... Click here 🌟
🌟 Remote consultant valuation (24-hour response, 80-90% accurate)... Click here 🌟
🌟 Face-to-face visit (time to suit you, 100% accurate)... Email expert valuer lisa.dahl-parsisson@cavendishproperty.co.uk to get started 🌟
For our Daily Property News | Like, Comment and Share | Click here
#CAVENDISHEXPERTS! The logical choice for Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
For properties for sale in Nottingham from Cavendish Residential click here
For properties for rent in Nottingham from Cavendish Residential click here
Latest from the BEST ESTATE AGENT in Nottingham 🏆
Latest from the BEST LETTING AGENT in Nottingham 🏆