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Bank of England base rate from 4.75 % to 4.50 % on 6 February 2025

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UK property market defies economic gloom as average house price rises to £288000

Development Exit 0.55% 70% LTV

Bank of England base rate from 4.75 % to 4.50 % on 6 February 2025

Nov 07 2024

THE IMPACT OF BANK OF ENGLAND BASE RATE ADJUSTMENTS ON YOUR MORTGAGE

The Bank of England's base rate is the interest it charges other banks, which affects mortgage rates and savings interest. It adjusts this rate to control inflation. When inflation is high, it raises the rate to reduce spending and bring inflation closer to the 2% target. Once inflation stabilizes, the Bank may lower or maintain the rate.


Latest Base rate
The Bank of England base rate from 4.75% to 4.50 % on 6th February 2025 - The First cut of 2025.

Fixed rate mortgages
If you have a fixed-rate mortgage, there won’t be any changes. Your rate and monthly payments are fixed for the duration of your term.

Find out how changes in interest rates may influence your mortgage with our calculator.
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