During recent events, the Bank of England twice dropped the Bank of England’s ‘base lending rate’. Generally referred to as ‘the base rate’, when it falls it is usually (but not always) an indication that lending rates generally will also fall.
For those borrowers with tracker mortgages linked to the Base Rate, they will see their mortgage payments fall.
Indeed, the average borrower with a £100,000 mortgage might see a saving of £30 per month. Those with fixed rates will not benefit, but if you have a variable rates linked to the lender’s own rate of borrowing, you will have to wait to see whether banks and building societies follow suit and drop their rates to mirror the Bank of England.
As in 2008, the Bank of England has also turned on the proverbial money-printing presses in an effort to stoke a seriously hamstrung economy. It has to be hoped that this will help to keep businesses solvent and trading in the short term and fund the huge public handouts currently being announced.
If you would like to review your current mortgage, now is the perfect time to start the process.
We remain open and can provide personal, one-to-one advice online via our online video conferencing facilities. Book a free video or phone appointment here.
Related article:
Download our Free First Time Buyers Guide
Recent posts
Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.
Call us for more information: 01628 507477 or email: team@mortgagerequired.com.
Research from Lloyds identifies the most affordable areas in the UK for first-time buyers to be able to get onto the property ladder.
On Wednesday, 13th May, King Charles delivered his speech at the House of Lords, outlining the government’s plans for the upcoming year.
Here is a summary of the housing and energy/environment points.
From 18th May 2026, Halifax (part of Lloyds Banking Group) is launching a ‘£5k Deposit mortgage’ to help first-time buyers get onto the property ladder sooner.
Homeowners could be faced with paying over £3,000 more per year on their mortgage if the conflict in the Middle East continues, following new analysis from INTEREST from Moneyfacts.
Renters' Rights Act
23 days ago
The Renter’s Rights Bill became law at the end of October, which means it has been signed off by the King, and it is now the Renters’ Rights Act. Despite this becoming law, these changes are likely to start changing within the next six months, with the aim of being fully implemented throughout 2026 and into 2027.
Green Mortgages | Rewards and Benefits
23 days ago
Mortgage lenders are starting to recognise their “Green” responsibilities when it comes to the different products they offer.
Costliest Streets in Great Britain
27 days ago
Recent data from Rightmove shows the most expensive streets in Great Britain, with the majority being situated in the capital.
More information
Trusted by
