What’s happening with mortgage and interest rates now? 💳
#CAVENDISHEXPERTS! The logical choice for Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
Latest figures from Rightmove show:
Average 5-year deal = 5.02% 📊
L
owest 5-year deal = 4.23% 📉
🔹 The Bank of England (BoE) meet about every six weeks to decide whether the Base Rate should go up or down, or stay the same.
🔹 The Base Rate is currently 5.25%, and has been held at this level since August.
🔹 However, UK inflation has now dropped to the Bank of England’s 2% target for the first time since 2021.
🔹 The current average mortgage rate for a five-year fixed rate mortgage is 5.02%, down from 5.03% last week.
🔹 The current average rate for a two-year fixed rate mortgage is 5.42%, down from 5.44% last week.
🔹 The lowest available five-year fixed rate is 4.23%, down from 4.28% last week, and the lowest available two-year fixed rate is 4.67%, down from 4.75% last week.
🗨️ Rightmove's mortgage expert, Matt Smith, says: “We expect average rates to reduce further over the next couple of weeks".
If you are looking for a mortgage, we have the best specialists on board that are ready to help 🆘
For a free consultation and to determine how much you can borrow, complete the 'Get in touch' form on this blog post and enter, "Mortgage advice" into the message field.
📸 Emma Travers, Head of Sales, Lettings and Investments at Cavendish Residential 📸
☎📧🗨
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