Mortgage payments fall more than £100 – Rightmove

The latest Rightmove tracker reveals an average mortgage payment £119 per month cheaper than at the same time last year.

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

We saw some headline grabbing low mortgage rates being offered by lenders at the end of 2025 and into January.”

Matt Smith, Mortgage Expert at Rightmove, says: “We saw some headline grabbing low mortgage rates being offered by lenders at the end of 2025 and into January, which saw average rates drop to their lowest level since before the Mini-Budget.

“Since then, rates have stabilised and even ticked up marginally in places as the cost of funding mortgages has become more expensive, due to global and domestic economic events.”

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