Need to get a mortgage? Here are the latest rates... Speak to us on how to apply 💳
#CAVENDISHEXPERTS in Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
If you’re thinking about buying a home, you might be wondering what the current mortgage rates are in the UK... 🏦
🔹 The lowest 2-year and 5-year fixed-rate mortgage rates are 3.69% and 3.81% respectively
🔹 The average 2-year and 5-year fixed-rate mortgage rates are 4.52% and 4.51% respectively
🔹The current average asking price of a typical First-time Buyer property is £228,551
🔹 For someone taking out an average 5-year fixed, 85% LTV mortgage, the average monthly mortgage repayment on this type of home is now £1,085 per month if repaying over 25 years
🔹 The Base Rate was cut to 4.25% on 8 May 2025
🔹 Inflation increased to 3.6%, up from 3.4% the previous month
🔹 It is widely expected that more cuts to the Base Rate are forecast as we get through 2025
🔹 By Autumn 2025, it could fall to about 4%, although this depends on what’s happening in the wider economy
🔹 But it’s difficult to predict when we could start to see more sizeable drops in mortgage rates, mostly because their movement is dependent on several factors
🔹 Including what happens with inflation, falling swap rates, and no unexpected shocks to the economy
📢 The person to best guide you through this is a qualified mortgage broker: they are critical in the entire process of securing the funds you need and liaising with your solicitor to ensure everything runs smoothly 🥇
For the latest mortgage rates from Rightmove, click here 💹
How much can you borrow with a mortgage?
🔸 The amount you can borrow with a mortgage is determined by an affordability assessment and your interest rate is determined by the amount of deposit you have, otherwise known as loan-to-value (LTV)
🔸 LTV is expressed as a percentage, and it reflects the size of the mortgage you need as a proportion of the value of the home you want to buy. The bigger the deposit you have, the lower the LTV, and vice-versa
For more information, read Rightmove's article in full by clicking here 📩
If you would like us to put you in touch with the right mortgage specialist, complete the form opposite ➡️ or email lisa.dahl-parsisson@cavendishproperty.co.uk 📧
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🌟 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 🌟
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