Bank of England CUTS Interest Rate Rise by 0.25% from 4.75% to now 4.50%. Kickstarting 2025 with more positive news for the UK mortgage market – home buyers, sellers and anyone needing to renew their existing mortgage deal.
What does this mean for you? Potentially lower mortgage rates !
Anyone currently on a tracker rate or Standard Variable will be benefit from this rate cut immediately. Your lender will write to you directly to advise you of this.
Anyone currently on a fixed rate that has already started will not benefit this.
For those currently going through the mortgage application and property buying process with myself, if the lenders decide to follow in suit and reduce their rates too then you will also benefit from this. Anyone who has a mortgage offer and has not yet completed – I will be keeping en eye on the fixed rates and will advise as soon as a lower rate becomes available to you!
Any questions please contact me on 07903 536007 or beth@bemortgages.co.uk