Cheapest mortgage rate is now a 2-year fixed rate
The lowest available mortgage rate is now a 2-year fixed rate, for those with a 40% deposit.
Commenting more widely on mortgage trends, Matt Smith, Rightmove’s mortgage expert says: “Average mortgage rates at the top-end of the market have fallen more quickly than for those with the smallest deposits over the past year. Someone with a 10% deposit is still looking at an average 5-year mortgage rate of 4.91%, only slightly down from 4.99% at this time last year.
“By contrast, today someone with a 40% deposit is now looking at an average 5-year mortgage rate of 4.20%, down from 4.36% – and we are still seeing some products below the 4% mark in this bracket.
“So while borrowing power has improved for first-time buyers, higher, and slower falling, mortgage rates for those with smaller deposits is still stretching affordability.”
Rightmove’s weekly mortgage tracker
Lowest rates for 2-year and 5-year fixed-rate mortgages
| Term | Lowest rate | Weekly change | Yearly change |
| 2-year fixed | 3.86% | -0.09% | -0.60% |
| 5-year fixed | 3.96% | +0.04% | -0.17% |
Average fixed-term mortgage rates for home-buyers with 5-10% deposits
| Loan to Value (LTV) | Term | Avg rate 13 Mar 2025 |
Avg rate 20 Mar 2025 |
Weekly Change | Yearly Change |
| 95% | 2-year-fixed | 5.70% | 5.67% | -0.03% | -0.24% |
| 95% | 5-year-fixed | 5.40% | 5.37% | -0.03% | -0.11% |
| 90% | 2-year-fixed | 5.23% | 5.19% | -0.04% | -0.27% |
| 90% | 5-year-fixed | 4.94% | 4.91% | -0.03% | -0.08% |
Average fixed-term mortgage rates for home-buyers with 15-25% deposits
| Loan to Value (LTV) | Term | Avg rate 13 Mar 2025 |
Avg rate 20 Mar 2025 |
Weekly Change | Yearly Change |
| 85% | 2-year-fixed | 4.89% | 4.87% | -0.02% | -0.35% |
| 85% | 5-year-fixed | 4.72% | 4.72% | +0.00% | -0.07% |
| 75% | 2-year-fixed | 4.64% | 4.62% | -0.02% | -0.44% |
| 75% | 5-year-fixed | 4.52% | 4.53% | +0.01% | -0.20% |
Average fixed-term mortgage rates for home-buyers with 40% deposits
| Loan to Value (LTV) | Term | Avg rate 13 Mar 2025 |
Avg rate 20 Mar 2025 |
Weekly Change | Yearly Change |
| 60% | 2-year-fixed | 4.25% | 4.24% | -0.01% | -0.45% |
| 60% | 5-year-fixed | 4.18% | 4.20% | +0.02% | -0.16% |
These rates are provided by Podium and are an average based on 95% of the mortgage market. All rates are based on products with a circa £999 fee.
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