Mortgage payments for the average homeowner now stand 7% cheaper than a year ago, according to Rightmove’s latest tracker report.
This is despite house prices being 0.5% higher in January than at the same time in 2025, and a jump from December to January of £35 in mortgage payments.
Rightmove’s figures based on a home value of £368,031, show an average monthly home loan figure of £1,592. which is £119 less than January 2025.
Other findings from the Rightmove tracker:
– Average two-year fixed mortgage rate in January was 4.23%, down from 4.99% in January 2025
– typical first-time buyer is looking at an average mortgage payment of £975 per month, compared to £1,062 at this time last year
– New buyers looking to purchase in London will benefit the most from lower mortgage rates compared to a year ago, whereas new buyers in the North East will benefit the least
– The average remortgage rate in January is 4.32%, down from 5.14% last year, and the average buy-to-let mortgage rate is 4.84%, down from 5.51% last year
– Rightmove’s monthly confidence tracker shows that net confidence among buyers and sellers in January returned to its highest level since September 2025
