Have you heard?
Bank of England – First Base Rate Decrease!
The Bank of England have announced a rate cut of 0.25% to the base rate which takes the rate to 5.00%.
This is the first cut by the Bank of England since 2020. Hopefully this is the start of further potential rate cuts in the coming future.
Mortgage Rates
Lenders have begun to decrease their fixed rates over the past few weeks. This means the cost of borrowing is slightly lower than it was previously. If you are looking at purchasing a new property, now could be potentially a good time. Generally, the market is quieter in the summer holiday period which can mean less competition on a property compared to usual.
If you want to confirm the maximum borrowing you can afford, email our mortgage advisor Harry at ht@capitalestateagents.com to arrange an initial call.
For any other enquiries please contact me:
Derek Lamb
Property Consultant
Office: 0208 313 0010
Mobile: 07920 263 367