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Stability in Sight as Rates Kept Steady - Latest Updates in UK Mortgages 🏦🇬🇧 Great news! The Bank of England has kept its Bank Rate steady at 5.25% for the fifth time in a row, signalling stability in the market. With inflation cooling down to 3.4% in February, mortgage costs have stabilised and even decreased, offering relief to homeowners. While a rate cut might be delayed until summer, the overall trend paints a promising picture for borrowers. This creates a favourable financing environment for Cosy Hauz, benefiting our projects and investors alike. #CosyHauz #InterestRates #Mortgages

The Bank of England has today announced that interest rates will remain at 5% 📊 If you are currently looking to take out a mortgage, you'll no doubt have been hoping for a rate cut now. However, forecasters predict that it will almost certainly drop further by the end of the year - most likely at the Monetary Policy Committee's next meeting in November. Discover how today's decision might affect your mortgage >>> https://bbc.in/39JbtBJ #mortgages #mortgageadvice #mortgagesuk #interestrates

Bank of England keep the base rate at 5% 👀 The Bank of England has voted against a further cut to interest rates, after the latest UK inflation figures remained stubbornly high. If your current mortgage rate is due to end in the next 6 months, please contact a member of the team as soon as possible. If your fixed rate is not due to end within the next 6 months, this will not impact you until your fixed period ends. If you would like to discuss your options, simply contact the team using any of the methods below 👇 📞 01744 885555 ✉ hello@allisonsfinancial.com 🌐 allisonsfinancial.com/ Source: https://lnkd.in/ez2_Y5JY Your property may be repossessed if you do not keep up repayments on your mortgage. You may have to pay an early repayment charge to your existing lender if you remortgage. #AllisonsFinancialPlanning #BaseRate #MortgageNews #Mortgages #BankOfEngland #MortgageAdvice #InterestRates #BOEUpdate #MortgageHelp #FinancialPlanning

📉 Bank of England Cuts Interest Rates to 4.75% 📉 The Bank of England has reduced interest rates by 0.25%, bringing them down to 4.75% in a bid to ease financial pressure on households and businesses facing high borrowing costs. What This Means for You: ◾ Current Mortgage Holders with Variable or Tracker Rates: You may see a reduction in your monthly payments as this rate cut filters through to lenders. ◾ Future Homeowners and Those Considering Remortgaging: This drop offers an opportunity for potentially better mortgage deals. Now is an excellent time to explore your options with Ascot Mortgages by your side. 📞 01925 711558 📧 enquiries@ascotmortgages.co.uk #BankOfEngland #InterestRates #AscotMortgages

Bank of England Cuts Mortgage Base Rate: What It Means for You 📉 The recent Bank of England rate cut to 4.75% is bringing potential benefits to UK homeowners and landlords. Here’s what you need to know: 💰 Lower Monthly Payments: Tracker and variable-rate mortgages may see reduced payments. 🔄 Fixed-Rate Renewals: If your fixed-rate term is ending soon, now is the time to explore new options. 📈 Improved Affordability: A decrease in the stress test rate may make mortgage applications easier. Find out how to make the most of this shift here: https://lnkd.in/ejYPSFp6 #uk #bankofengland #mortagerates #industrynews

Bank of England Rate held at 5.25% Source*: Bank of England Website 👉🏽https://lnkd.in/edS6u5Sm THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. Your Property Financial Ltd (FCA Number:942504) which is an appointed representative of PRIMIS Mortgage Network. PRIMIS Mortgage Network is a trading style of Personal Touch Financial Services Ltd (FCA Number: 187834) which is authorised and regulated by the Financial Conduct Authority. We usually charge a fee for mortgage advice. The amount of the fee will depend upon your circumstances and will be discussed and agreed with you at the earliest opportunity. The Financial Conduct Authority does not regulate some forms of buy-to-let, overseas and commercial mortgages. #mortgagesuk #mortgageadviceuk #mortgageadvisoruk #mortgage #today #rates #mortgagenews #happylunarnewyear

Mortgage rates: When will UK interest rates fall again? The Bank of England has kept interest rates on hold at 5%, but a further cut is expected later in the year. Interest rates affect the mortgage, credit card and savings rates for millions of people across the UK. The first drop in rates for more than four years came in August, but borrowing costs remain high. https://lnkd.in/dRtAeqS

WHY ARE INTEREST RATES DOWN BUT MORTGAGE RATES UP? On 7 November, the Bank of England cut the base rate - which influences the wider cost of borrowing for businesses, individuals and the government - from 5% to 4.75%. This had been widely expected, so the markets had already factored the cut into their calculations. In other words, it was so widely anticipated that borrowing costs had already been adjusted accordingly. The Bank of England also said that future interest rate cuts may not come as often and as quickly as previously thought. It is clear that lenders and the financial markets expect a slow reduction in the Bank of England base rate in the future and this has been reflected by the current interest rates. #bankofengland #baserate #interestrate #budget

How do changes in interest rates impact variable rate mortgages? Here's a few key points to understand what the recent BoC cut means.

The Bank of England has kept the base rate of borrowing at 5.25%. Base rate is the bank’s main tool to fight inflation which has been stubbornly high for a sustained period. Inflation is falling so their policy is working but borrowers are finding it hard to meet rising repayments on debt. What does this mean for your mortgage? Rates stayed the same so there’s no change for anyone on a deal which tracks the base rate. Fixed rate mortgage prices are more affected by the cost of lending between banks. Although the base rate won’t have a direct affect on what lenders are charging for new deals, stability is always helpful in calming the markets. Lenders have been changing products more regularly lately and at short notice so if you’re coming to the end of your current fixed rate or you want to move house, get in touch. We’ll find the right mortgage for you and act quickly to secure it. https://bit.ly/3QLsmh4 YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. There may be a fee for mortgage advice. The precise amount of the fee will depend on your circumstances but will range from £495 to £595 and will be agreed with you at the earliest opportunity. #mortgage #mortgagebroker #mortgagebrokerbristol #mortgagestyle #mortgages #mortgageadvice #mortgageknowledge #mortgagesupport #mortgagehelp #property #awardwinning #awardwinningadvice #baserate #bankofengland #baserateannouncement