It has been well documented in the last week that the Bank of England Base rate was dropped meaning a positive impact on the housing market should follow. At Miles Rhodes we have been in regular contact with lenders and what the interest rates have been doing. We have seen lenders such as TSB and the Co-Op Bank cut their rates since the news from the Bank of England.
While mortgage rates are linked to the base rate they aren’t directly based on them. They are directly linked to swap rates which is where the banks themselves get the money to lend to their clients. We have also seen them drop over the previous week so we are hopeful of other lenders following suit and reducing rates over the coming weeks and months.
How Miles Rhodes Mortgages Can Help You Secure the Right Mortgage Rate
The mortgage team at Miles Rhodes Mortgages are here to guide you through the mortgage process and help you secure the most suitable rate with a lender that matches your circumstances. We do more than arrange your mortgage — we actively track lender rates throughout your fixed term so that, when your deal is coming to an end, you are well positioned to move onto the best available option.
If you would like to discuss your situation or review your current mortgage, we recommend speaking with one of our advisers as early as possible. You can contact our office on 01362 423042 to see what we could help you save.
We support homeowners across Watton, Reepham, Swaffham and Fakenham, offering clear, independent mortgage advice tailored to your needs.
