Book a Property Valuation

Selling August 2, 2016
     

Lenders React To Possible Base Rate Cut

Lenders react to possible base rate cut

All eyes were on the Bank of England this week, following widespread speculation of an impending cut in the Base Rate - the first since March 2009. 

The Monetary Policy Committee has however voted 8-1 to leave rates unchanged, opting to wait until August’s inflation report before taking any action.

A number of lenders, including Halifax and Santander, have already withdrawn or increased their tracker rates over the last few days. In some cases the increases have been nearly 0.50%.

This certainly suggests that lenders believe the Bank of England is preparing to cut Base Rate very soon, and are looking to protect their margins. 

A drop in base rate will of course benefit homeowners who already have tracker mortgages, and would immediately see a drop in their monthly payments.


Guild Mortgage Service, Provided by London & Country Mortgages

How Home Automation Can Impact Property Value

Why do house sales fall through?

The Guild Guide: Best Time To Sell Your House

How to know when it's time to put your home on the market

Contact us

About us

enquiries@livingresidential.com If you are in need of estate agents throughout West Hampstead, Cricklewood and NW6 in Central London, we can offer an extensive list of properties to view in your desired area. We list properties for sale and for rent, and our user-friendly search function allows you to narrow the lists down to meet your specific criteria. We believe in making the complex task of finding, or selling, a home as easy as possible.

Book a Property Valuation