The Bank of England’s decision to hold the base rate at 4.5% signals a cautious approach to reducing interest rates, prioritising inflation control while supporting economic stability.
Why Sellers Should Act Now
With interest rates expected to decrease slowly rather than all at once, serious buyers are still in the market and looking to secure homes before rates drop further and competition increases. If you’re thinking of selling, now is an excellent time to attract committed buyers while avoiding a potential influx of properties on the market later, which could drive prices down. By pricing competitively and presenting your home well, you can make the most of this window of opportunity.
Positive News for Mortgage-Holders
If you’re already on a fixed-rate mortgage, your payments remain unchanged for now. If you’re on a variable or tracker rate, the good news is that rates are not rising further and should start easing in the coming months. If you’re considering moving, now is the time to explore your options—locking in a deal now could mean securing a competitive rate before the market shifts further.
A Great Opportunity for Buyers
While affordability has been a concern, mortgage rates are expected to come down gradually, meaning now could be the right time to start house-hunting before demand picks up. Waiting too long could mean more competition and higher house prices as more buyers enter the market. With lenders likely to adjust their deals soon, acting now could allow you to secure a great mortgage offer before the landscape changes.
With the market stable and positive shifts on the horizon, both buyers and sellers can move forward with confidence.
Now is the time to make your move!
