The Bank of England has kept the base rate at 0.1% and will continue its quantitative easing.
There had been rumours that they could move rates into negative but on the figures, they opted to keep the base rate the same.
This is good news for borrowers and has been followed by some lenders reducing the cost of mortgages even further at lower LTV levels.
However, anyone looking for mortgages at higher LTV levels (85% or above) are likely to see higher rates than in previous months.
Mortgage lenders have a large volume of mortgage transactions which is accounts for some of the slow processing we’ve seen recently and also by raising the costs it helps to reduce the number of transactions.
With the uncertainty in the economy, we are seeing mortgage products appear and disappear, sometimes within days.
If you have a mortgage offer that you happy with, act on it as soon as you can.
If you need any help to find a mortgage or remortgage please don’t hesitate to get in touch, my advice is free!
Call 01625 548248 or email enquires@mortgagesavers.co.uk
You can also enquire via our website https://mortgagesavers.co.uk/
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