At last….positive signs for the mortgage market

September 22, 2023

UK interest rates have been left unchanged at 5.25% by the Bank of England

The decision comes a day after figures revealed an unexpected slowdown in UK price rises in August.

The Bank had previously raised rates 14 times in a row to curb inflation, leading to a surge in mortgage payments but also higher savings rates. However, the latest move raises the prospect that this cycle of rate increases may have peaked. Mortgage lenders and banks had already started to reduce rates leading up to the announcement so hopefully more reductions will follow over the coming weeks.

Richard Kendall Estate Agent works in partnership with SMH Finance LLP who would provide the mortgage advice.

Speak to one of SMH Finance LLP specialists today and telephone 01924 266555 – https://www.richardkendall.co.uk/mortgages/