Today, things started to look a little bit brighter for those who may be re mortgaging their home, or looking to buy a new home with a mortgage.
After a positive step in the right direction, as households tighten their belts, the effects are bow being seen as the general inflation figure showed a decrease to 6.7% in August 2023.
Meaning The Bank of England offered a small reprieve to those stuck in limbo or about to enter a new mortgage deal.
The Bank of England today confirmed that they will ‘Hold’ the current base rate at 5.25% albeit there were still 4 members of the monetary committee who felt rates should rise further.
Whilst one questions the sanity behind 14 Consecutive base rate rises since Dec 2021, and couldn’t help feeling the public could have managed the situation better themselves, one can’t help but breathe a sigh of relief that normality and sense, Will ALWAYS prevail.
If you’re thinking of buying or selling your next home., Give us a call for a no obligation chat on how we can help you!
Call Christina on 01603 952595
