Mortgage Market Update from Purely Financial
There’s positive movement in the mortgage market. With the Bank of England’s base rate now at 4.00%, lenders have started trimming rates on both two- and five-year fixed deals, making borrowing a little more affordable. Shorter-term fixes in particular are becoming increasingly attractive with many under 4% now, and competition between lenders is giving buyers more choice.
That said, recent inflationary pressures—particularly from food and energy costs—mean rate cuts are expected to be gradual rather than dramatic. The general outlook is still positive, with further easing likely through 2025 and into 2026, but it’s worth remembering that shifts in inflation could slow the pace of reductions.
In short, while we’re not back to the ultra-low rates of old, the trend is moving in the right direction—bringing welcome stability and opportunities for buyers, movers, and those coming to the end of a fixed deal.
As always Independent advice is key and we always welcome clients of Andrew Lodge to contact us with no obligation. Please call the team at Purely Financial on 01932 627999 for further information.