Act Now to Secure Lower Rates Buyers begin to prepare for interest rate cuts

As we approach the Bank of England’s next Monetary Policy Committee meeting scheduled for August 1st, there is growing expectation in the financial markets about a possible interest rate cut. Such a decision could influence both current and prospective homeowners’ financial strategies.

Lender Response to Market Conditions
In anticipation of potential reduction to the base rate, notable lenders such as HSBC and Barclays have already begun to make modest cuts to their mortgage products.

And although the average rate on a two-year fixed deal stands at 5.96% according to the financial information service Moneyfacts. These early moves suggest a cautious optimism that could benefit borrowers looking to enter or navigate the housing market.

Join Others Who Are Securing Mortgage Rates Now
With the expectation of lower interest rates, many in the property sector expect to see an increase in market activity as more buyers feel encouraged to pursue property purchases. This will mean more competition for property, potentially increasing house prices. 

Many of our clients have already started to secure mortgages in principle with our team, ready to take advantage of any opportune moment in their property search.

How We Can Support You

1. Evaluating Your Borrowing Capacity: It’s essential to have a clear understanding of how much you might be able to borrow. Our team can provide guidance based on your financial circumstances.
2. Securing a Mortgage Agreement in Principle: This can be a crucial step if you’re considering a property purchase soon. An agreement in principle not only prepares you but also strengthens your position in dealings with estate agents and sellers.
3. Flexi Lock Service: Our Flexi Lock service allows for flexibility in your mortgage choice. Should rates decrease further or better deals become available post-agreement, this service enables us to adjust your mortgage accordingly, ensuring you benefit from the best possible terms.

Get In Touch Today
Our team is ready to provide you with tailored advice and support to help you navigate your mortgage options effectively. Get in touch now on 0208 364 3444 alternatively click here to schedule a free consultation call.