The Bank of England has cut interest rates for the first time in over four years. The interest rate has been lowered by 0.25%, to 5%. This brighter news is sure to have a positive effect on the mortgage deals available and will provide a welcome boost to the UK property market.
There has already been an encouraging response from some of the major banks. Halifax, NatWest and Santander have all slashed their mortgage rate offerings, this on the back of Nationwide offering a sub four per cent mortgage just last week. Should you need a reliable mortgage broker to talk you through the options, we can suggest some of our partners who between them cover all parts of the country.
We expect that for many of our clients, these improved financial conditions will give them the confidence and affordability to move ahead with a property purchase. Following on from inflation stabilising at 2%, this is the news some have been waiting for before finalising their plans. When factoring in our Property Negotiation Service, there are potentially considerable savings on offer now for those wishing to make that purchase.
