UK statistics
UK Average Monthly Mortgage Payment 2026: £1,592 + Rate Trend
UK average monthly mortgage payment reached £1,592 in January 2026 per Rightmove - £119 (-7%) lower than January 2025. Based on the average UK asking price, 80% LTV, 2-year fixed product rate (4.23% Jan 2026 vs 4.99% Jan 2025), 25-year term. Bank of England base rate held at 3.75% (June 2026 MPC) keeps mortgage rates in a stable range.
Headline numbers
- Average UK monthly mortgage Jan 2026
- £1,592
- Average 2-year fixed rate Jan 2026
- 4.23%
- Monthly drop vs Jan 2025
- -£119
Rightmove, 80% LTV 25-yr fix
Rightmove tracker, down from 4.99% YoY
-7% YoY as rates eased
The detail
UK average monthly mortgage payment was £1,592 in January 2026 per Rightmove analysis - a £119 (7%) reduction versus January 2025. The fall reflects two-year fixed rates dropping from 4.99% (Jan 2025) to 4.23% (Jan 2026) as the Bank of England cutting cycle (Aug 2024 onwards) flowed through to lender pricing.
Methodology: Rightmove's figure is calculated from the average UK asking price, an 80% LTV loan-to-value (typical first-time-buyer + remortgage), 2-year fixed product rate, and 25-year term. The figure varies materially by region - London averages £2,400+/month, North East £1,100, Wales £1,200.
For household budgeting this £1,592/month is significant. At UK median household income of approximately £35,000/year net, mortgage = 55% of take-home. The standard affordability benchmark is mortgage payment + bills + travel + food ≤ 50% of take-home. UK households at the median income with median house price are at or beyond that comfort threshold, driving forced down-sizing + delayed first-time-buyer entry.
Sources
- Rightmove - Average monthly mortgage payment down £119 year-on-year (retrieved 2026-06-24)
- Bank of England - Bank Rate June 2026 MPC Summary (retrieved 2026-06-24)
- Our methodology & full source list →
Related statistics
- Average house price
The ONS House Price Index put the average UK house price at £270,000 in the 12 months to April 2026 - up 3.8%. Country split: England £290,000 (+0.8%), Wales £210,000 (+2.5%), Scotland £187,000 (+2.3%), Northern Ireland £198,000 (+7.4%). London is the only English region with falling prices (-2.1%); the North East is fastest rising at +9.9%.
- UK Bank Rate
The Bank of England Monetary Policy Committee voted by majority of 7-2 to maintain the Bank Rate at 3.75% at its meeting ending 17 June 2026, with two members favouring a 25bps rise to 4.00%. CPI inflation has fallen to 2.8%, although the MPC noted it is expected to rise later in 2026 as energy-price effects pass through. The next MPC decision is scheduled for 30 July 2026.
- UK household saving ratio
The UK household saving ratio - the share of disposable income that households save rather than spend - was 9.9% in Q4 2025 per ONS Quarterly Sector Accounts (released 31 March 2026). The figure follows 10.9% in Q1 2025 and 9.5% in Q3 2025, suggesting the saving rate is normalising downwards from the pandemic-driven peak above 23% in Q2 2020 but remains above the pre-pandemic 5-7% range.