The mortgage loan rates have continued their tendency to low gratitude in part to the latest rates of the Bank of England.
The average standard variable rate (SVR) has fallen more below 8% month by month and is 7.58%, below 8.18% of the previous year.
Since May 2024, the average fixed rate of two years has fallen from 5.91% to 5.18% and the average fixed rate of five years has fallen from 5.48% to 5.10%; Both are low from month to month. These average rates were 5.32% and 5.18% respectively last month.
In a 10 -year fixed rate mortgage, the average rate was 5.97% in May 2024. This rate has fallen to 5.51% and has decreased month to month.
| Mortgage Market Analysis | ||||||
| Average mortgage rates | December-21 | May 23 | May 24 | Nov-24 | APR-25 | May 25 |
| Standard variable rate (SVR) | 4.40% | 7.37% | 8.18% | 7.95% | 7.60% | 7.58% |
| Two -year fixed mortgage | 2.34% | 5.26% | 5.91% | 5.39% | 5.32% | 5.18% |
| FIXED MORTAGE OF FIVE YEARS | 2.64% | 4.97% | 5.48% | 5.09% | 5.18% | 5.10% |
| 10 -year fixed mortar | 2.97% | 5.00% | 5.97% | 5.58% | 5.63% | 5.51% |
| The average rates that are shown are as on the first day notable of the month, unless otherwise indicated. Source: Moneyfactcompare.co.uk |
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Rachel Springall, Commentator of Finance of Moneyfactcompare.co.uk, said: “The mortgage rates are in a downward trend, which will be welcome for the millions of borrowers who seek to refinance this year. The driving desire of the driving force, the recent recent falls of ha, the recent falls of has, the recent falls of recent recent falls of recent recent falls. Recent recent recent falls, recent recent falls, recent recent falls, recent falls, recent falls.
“The mortgage market is undoubtedly calmer now compared, despite a hurry to rebuild fixed agreements, but the lenders will have to work incredibly hard in the coming months to balance new businesses and maintain a closure of erased fixings. Those. Ase. Ase. Ase. Ase. Ase. Ase. Ase. a higher value.
“There is an expectation (although subject to a lot of debate) that the base rate of the Bank of England will be reduced several times before the end of the year, due to greater economic uncertainty and concerns about inflation. Those borrowers need the suction-aspiration-aspiration-aspiration aspiration support of the life of the market of the market of the market.
“Borrowers must feel comfortable with their mortgage and understand the implications of losing reimbursements. Any relaxation for stress tests must be careful and not to the detriment of the borrowers later or Wiser’s conscious mortgage to seek advice of a corridor to evaluate the latest agreements.”
The United Kingdom Finance has also published relevant data on the total number of mortgages and data on what would make a change in the banking rate to average the monthly costs of the mortgage.
Outstanding residential mortgages
This table shows the mortgage division through fixed rates, trackers and standard variable rates.
| Type of mortgage | Number | % or total |
| Fixed | 7,104,000 | 85% |
| Tracker | 591,000 | 7% |
| SVR | 540,000 | 6% |
| Total | 8,404,000 | 100% |
Or the total number of fixed rate agreements, the United Kingdom’s financial analysis shows that around 1.6 million will end in total in 2025.
Subsequent analysis
This table shows average monthly payments and interest rates for various types of different mortgages.
| Metric | Tracker | SVR | Fixed |
| Average pending balance | £ 139,042 | £ 66,576 | £ 167,691 |
| Average current mortgage interest rate | 5.93% | 7.38% | 3.65% |
| Average current monthly interest payment | £ 687 | £ 410 | £ 510 |
| Average total payments (for borrowers on capital and interest) | £ 991 | £ 652 | £ 943 |
Rate change scenarios (current monthly payment change)
This table shows what would happen with the monthly payments of furage for the tracker and the standard variable rate mortgages if the Bank of England changes interest rates.
Those in fixed rates mortgages will not see changes in their monthly payments.
| BANK RATE CHANGE | Tracker | SVR | Fixed |
| -0.50% | £ -57.93 | £ -27.74 | £ 0 |
| -0.25% | £ -28.97 | £ -13.87 | £ 0 |
| 0.00% | £ 0.00 | £ 0.00 | £ 0 |
| +0.25% | £ 28.97 | £ 13.87 | £ 0 |
| +0.50% | £ 57.93 | £ 27.74 | £ 0 |
*The average standard variable rate (SVR) is currently 7.58%. Calculations based on a mortgage of £ 250,000 within 25 years per reimbursement. SVR refund £ 1,860 per month, versus £ 1,487 per month with a fixed rate of two years of 5.18%.
The property industry reacts to England’s bank to reduce interest rates
