Bank of England have confirmed that the base rate of interest will remain at 4%

This was broadly expected this month, although there was some talk that there may be a slight reduction this month.

In terms of mortgages, this means that those people on variable rate mortgages, such as tracker deals, will see no change in their monthly payments.

We have recently seen many lenders reducing the fixed rate deals they have available.

This does show that the general consensus is that the base rate will come down over the next year or so, which should be good news for everyone with a mortgage.
 
Our team will always secure you the best mortgage deal available to you at that time but remember, this is primarily your home and not an investment.

If you need any advice, please get in touch with me or a member of Barlow Irvin Financial Services award-winning mortgage experts on 01204 304 814.

As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.