Now's the time to speak to a mortgage advisor...
In a bid to keep the economy stable during the Coronavirus, in March 2020 the Bank of England announced an emergency cut in interest rates from 0.75% to 0.25% and again from 0.25% to 0.1%. While bad news for savers, it's great news for borrowers, as lenders use the Bank of England base rate as a reference point for many mortgages.
What does this mean for your mortgage?
- Tracker - If your product is tracking the Bank of England base rate this is great news for you and you will soon see your monthly repayment cost reduce
- Variable - Your rate is likely to reduce, but not guaranteed
- Fixed Rate - Your monthly mortgage payment is set and will not move until you exit this product
Mortgage providers will be adjusting their product rates in line with this change, so now is a great time to find the perfect mortgage for you. Call us on 0118 3213 889 or visit your local branch to book an appointment.
Making your mortgage search easy
Getting your foot on the property ladder or moving home is really exciting, but we know how important it is to get your finances in order to ensure you can buy the home of your dreams.
Our experienced mortgage advisors are on hand to guide you through the entire process. And because we live and breathe mortgages we can find you the right deal for your situation from over 11,000 different options – we’ll even do all the paperwork for you!
Get in touch today to arrange a mortgage appointment and get the ball rolling on 0118 3213 889.
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