Published: 07/08/2025 By David Price
Following the meeting of the Bank of England’s Monetary Policy Committee today, the base rate has been reduced by 0.25% to 4%, which is the lowest level since February 2023 and the fifth reduction in the last twelve months.Residential Sales Manager in our Blandford Office, David Price, comments that this is a welcome boost for borrowers and was widely expected in the financial markets. Mortgage rates have been decreasing lately, with many lenders offering products below 4%. This latest announcement by the Bank of England will continue the pattern started last August of gradually lowering mortgage costs. In addition, the Government has recently directed regulators to soften some lending criteria; together, these changes will help improve the availability and affordability of mortgages, which in turn drive more activity in the housing market.
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