Lower Interest Rates Bring Relief to Borrowers as Market Shifts Again

The Bank of England has lowered the base interest rate from 4.25% to 4%, its fifth cut since August last year. This brings rates to their lowest level in two and a half years, offering some much-needed breathing room for homeowners and buyers facing high monthly repayments. 

One of The Stunning Homes For Sale Offered By Greenhill Estates 

While most existing mortgages are fixed and won’t be immediately affected, the reduction will benefit hundreds of thousands of homeowners on tracker or standard variable rate mortgages. For example, someone with an average variable-rate mortgage of £250,000 could see their

monthly repayments drop by around £40, welcome news at a time when cost-of-living pressures remain high. 

Lower rates are also making new mortgage deals more attractive. Even though many homeowners have recently come off historically low fixed rates, the gap between old and new repayments is narrowing. This shift is helping to restore confidence in the property market, with buyers showing renewed interest as affordability gradually improves. 

Hannah Green, founder of Greenhill Estates, commented, “This latest rate cut is a much-needed boost for the market. It’s easing the pressure on borrowers and giving people more options, whether they’re looking to move, buy for the first time, or remortgage. We’re already seeing a positive response from clients who feel more confident about taking their next step.” 

Greenhill Estates continues to support clients in navigating these shifts, offering expert advice tailored to individual circumstances as the market adapts to lower rates. 

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