Mortgage rates are dropping (finally!)
Thanks to some global drama (cheers, Donald), financial markets are wobbling — and UK lenders are reacting by slashing their fixed-rate mortgage deals. MPowered Mortgages just kicked things off with new rates starting at 4.04%, and other lenders are likely to follow. .
Bank of England might cut interest rates soon
Markets are now betting big (like 95% confident) that the Bank of England will cut rates soon. Why? Because the economy’s feeling a bit moody, and rate cuts could perk things up. If it happens, mortgage deals could get even cheaper.
If you are buying a house, pay attention
If you are looking to buy, it might be useful to sit tight for a while and see what happens. With mortgage rates coming down, you might be able to save some money (to make up for the inevitable rise in inflation.
If your mortgage deal ends this year, you’re in luck — this could save you some serious cash. Just don’t snooze on it. Keep an eye out, maybe speak to a broker, and time your move right.
If you have found a house don’t hold back, apply for your mortgage. Your mortgage offer is normally valid for six months, but you have no obligation to take it up – if you see a better deal later, just reapply (your broker might not love you)
