Average mortgage interest rates in the United Kingdom (UK) 2014-2019
Average interest rates for mortgages in the United Kingdom (UK) from March 2014 to March 2019, by type of mortgage*
As of March 2019, 10-year fixed mortgage rates were at their lowest since recording began by the Bank of England at just under 2.6 percent. This is particularly good news for first-time home buyers and those remortgaging their property. A saturated market, lowering house prices in the capital and rising competition in the mortgage market has seen some large lenders drop interest rates again in a bid to encourage nervous customers and investors out of the shadow of Brexit.
What decides a mortgage
For anyone trying to obtain a mortgage, they will want the lowest possible rates. For the lender, they will want to attract as many borrowers as possible by staying competitive, all the while trying to manage their risks with appropriate rates.
Number of homes sold
During 2018, the overall number of residential properties sold fell from the previous year in the United Kingdom. Of the plus one million transactions made across the UK in 2018, the majority of residential properties were sold in England.
Average interest rates for mortgages in the United Kingdom (UK) from March 2014 to March 2019, by type of mortgage*
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| 2 year fixed rate mortgages | 3 year fixed mortgage | 5 year fixed mortgage | 10 year fixed*** | 2 year variable | |
|---|---|---|---|---|---|
| Mar '14 | 2.37% | 2.97% | 3.48% | - | 2.68% |
| Jun '14 | 2.6% | 3.01% | 3.69% | - | 2.71% |
| Sep '14 | 2.46% | 2.94% | 3.61% | 4.06% | 2.44% |
| Dec '14 | 2.08% | 2.89% | 3.21% | 4% | 1.6% |
| Mar '15 | 1.99% | 2.63% | 2.98% | 3.47% | 1.56% |
| Jun '15 | 1.83% | 2.54% | 2.82% | 3.24% | 1.66% |
| Sep '15 | 1.91% | 2.4% | 2.84% | 3.35% | 1.74% |
| Dec '15 | 1.9% | 2.26% | 2.75% | 3.36% | 1.78% |
| Mar '16 | 1.9% | 2.14% | 2.7% | 3.19% | 1.67% |
| Jun '16 | 1.75% | 2.13% | 2.54% | 3.1% | 1.62% |
| Sep '16 | 1.59% | 1.92% | 2.34% | 2.84% | 1.54% |
| Dec '16 | 1.45% | 1.79% | 2.26% | 2.98% | 1.48% |
| Mar '17 | 1.37% | 1.68% | 2.15% | 2.8% | 1.42% |
| Jun '17 | 1.48% | 1.7% | 1.99% | 2.82% | 1.42% |
| Sep '17 | 1.4% | 1.6% | 1.9% | 2.72% | 1.46% |
| Dec '17 | 1.57% | 1.7% | 2.07% | 2.66% | 1.69% |
| Mar '18 | 1.53% | 1.77% | 2.02% | 2.76% | 1.58% |
| Jun '18 | 1.74% | 1.8% | 2.03% | 2.74% | 1.56% |
| Sep '18 | 1.71% | 1.81% | 2.01% | 2.68% | 1.68% |
| Dec '18 | 1.73% | 1.81% | 2.01% | 2.64% | 1.7% |
| Mar '19 | 1.68% | 2% | 2.04% | 2.58% | 1.6% |
Source
More information
Other statistics on the topic
Quarterly gross mortgage lending in the United Kingdom (UK) Q1 2012- Q1 2019
Mortgage lending: year-on-year growth rate in the UK leading banks 2010-2017*
Total repayments of loans secured on dwelling in the United Kingdom (UK) 2012-2018
Amounts outstanding from lending to individuals in the UK 2017-2018, by loan type
Statistics on "Mortgages in the United Kingdom (UK)"
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