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We’re excited to share news of the Bank of England’s decision to lower the base interest rate from 4.75% to 4.5% today. This marks the lowest level in over 18 months.
This strategic cut provides a significant relief for mortgage holders and injects a note of optimism into the housing market.
Insights from the Monetary Policy Committee suggest that additional rate cuts could be forthcoming, as two members voted for an even more substantial reduction this session. This aligns with the Bank’s long-term strategy to steer inflation towards its 2% target.
Chancellor Rachel Reeves responded positively to the rate cut, acknowledging its potential to ease the cost of living and stimulate business growth. Despite this progress, she expressed a determination to accelerate economic growth further, underscoring the government’s commitment to improving financial conditions for households across the UK.
How We Can Help
Given these developments, now is an opportune moment to reassess your mortgage options.
Our award-winning team of mortgage brokers is ready to guide you through the array of products and lending opportunities
Get in touch today on 0208 364 3444 or click here to schedule a free consultation call to find out more about how we can help you.