A significant shift occurred recently in the UK mortgage market: average two‑year fixed mortgage rates have fallen below five‑year rates, a scenario unseen since the post‑mini‑Budget upheaval of 2022 The Guardian+4Financial Times+4Moneyfacts Group+4. What’s the Current Rate Landscape? Moneyfacts data shows this divergence is the first since September 2022, signaling…
Read MoreOn 7 August 2025, the Bank of England lowered the base rate from 4.25% to 4%—the fifth cut in a year and marking its lowest level since March 2023 . This decision was decided through a historic process: the MPC was so divided that it held two rounds of voting,…
Read MoreIn a tightly contested vote, the Bank of England’s Monetary Policy Committee (MPC) decided today to reduce the base rate by 0.25 percentage points, bringing it down from 4.25 % to 4 %—the lowest level since March 2023. This marks the fifth reduction in just over a year. Decision Details The decision…
Read MoreNationwide Building Society has announced reductions of up to 0.12% on selected two-, three-, and five-year fixed-rate mortgage products, effective immediately. These cuts bring Nationwide’s lowest lending rate down to 3.9%. For existing customers looking to switch, rates remain unchanged, starting from 3.84%.(propertyindustryeye.com, theguardian.com) The new rates include a two-year…
Read MoreOn 8 May 2025, the Bank of England (BoE) reduced its base interest rate by 0.25 percentage points, bringing it down to 4.25%. This marks the fourth consecutive cut since August 2024, when the rate stood at 5.25% . Reasons Behind the Rate Cut The Monetary Policy Committee (MPC) voted…
Read MoreThe Bank of England may take more decisive action to reduce borrowing costs this year, offering positive news for mortgage holders. A recent survey of 51 economists predicts the Bank will lower interest rates at least four times in 2025. According to the poll, the base rate could decrease from…
Read MoreBank of England Governor Andrew Bailey has signalled that further interest rate cuts could be on the table, provided inflation stays under control. Bailey indicated that the Bank might adopt a “somewhat more aggressive” approach to the base interest rate in the coming months. In an interview with The Guardian,…
Read MoreFor those contemplating purchasing a home, the current mortgage rates in the UK are a pertinent consideration. Mortgage lenders regularly adjust the rates of their products. Consequently, we provide weekly updates on average mortgage rates, allowing for easy comparison with the previous week’s figures. Moreover, you can assess rates across…
Read MoreAverage mortgage rates have been steadily decreasing since July, providing a more stable and predictable environment for homebuyers compared to the volatility of the previous year’s mortgage market. Currently, the average two-year fixed rate stands at 5.52%, and the average five-year rate is 5.11%. Despite the improved outlook for mortgage…
Read MoreThe year has exceeded expectations, with sellers adopting more competitive pricing strategies. The average property asking price is now £362,143 and the average rent £1,231 PCM The current year is surpassing expectations, with sellers adopting more competitive pricing strategies. This month, average new seller asking prices have decreased by 1.7%…
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