Base Rate Cut to 5%

The monetary committee narrowly voted 5-4 in favour of a cut bringing welcome news to homeowners. 

 

We are unlikely to see a steady or rapid fall in the coming months but it is hoped that a sub 5% base rate mat be seen before the end of the year as the Bank of England look to maintain inflation at the current 2% target level whilst avoiding any sudden changes. 

 

With a number of high street lenders reducing their mortgage rates in the last week this looks like the housing market may be in for a busy period and could well represent a good time to move home.