The latest mortgage rates update from Uswitch, as of 27th December 2023, shows a marginal decrease in certain fixed-rate mortgages.
For a 2-year fixed-rate mortgage at 75% loan-to-value (LTV), the average rate among the big six lenders is 5.16%, showing a slight decrease of 0.015% from last week and 0.17% from last month. The 5-year fixed-rate mortgage at the same LTV remains unchanged from last week but has decreased by 0.03% since last month, standing at 4.81%.
There are no changes in the rates for 2-year variable-rate mortgages and 2-year fixed-rate mortgages at 90% LTV, which are at 5.74% and 5.79% respectively. The standard variable rate (SVR) remains steady at 7.5%.
When looking at the average mortgage rates across all lenders, the 2-year fixed-rate mortgage at 75% LTV is 6.29%, a stable rate compared to last week but a 0.05% decrease from last month.
The 5-year fixed-rate mortgage at the same LTV has decreased by 0.08% since last week and 0.13% since last month, currently at 5.89%.
The 2-year variable-rate mortgage at 75% LTV and the 2-year fixed-rate mortgage at 90% LTV remain unchanged, at 5.94% and 5.89% respectively. The SVR has seen a slight increase of 0.05% from last month, now at 8.74%.
In the buy-to-let sector, the average 2-year fixed-rate mortgage at 75% LTV is 5.99% across all lenders and 5.84% across the big six, both unchanged from last week but showing a decrease of 0.05% and 0.09% respectively since last month.
The lowest rates available are 3.99% from LendInvest Mortgages and 4.79% from NatWest.
