Our use of cookies Claire Whisker of First In The Door reacts to cut in interest rates.
“Today’s reduction in the Bank of England rate is fantastic news for our property purchasers, especially for first-time buyers who have felt the pinch since the end of the favourable stamp duty threshold in April. Lower interest rates mean reduced borrowing costs, easing some of the financial pressure and making it a great time to enter the market. It’s also a positive development for those looking to remortgage, as this will likely bring down monthly repayments.”
“Buyers should consider this an opportunity to review their options, whether it’s securing a mortgage at a lower rate or locking in a more attractive deal for their remortgage. I literally spoke to a buyer yesterday wanting to buy in London who said a big plus for him will be a further interest rate reduction as he will be looking to take advantage of still relatively cheap credit and borrow as much as he can.”