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  • Writer's pictureMatthew Pigrome

Proactive Approach Urged as Mortgage Interest Rates Slightly Fall Amid Inflation Dip

Since the beginning of last year, successive Bank of England Base Rate rises have led to a surge in mortgage interest rates. However, there's a glimmer of hope for borrowers as inflation has slightly eased, resulting in a slight fall in interest rates. Experts suggest that this could be an opportune time for Britons to secure a new mortgage deal and take advantage of the current market conditions.


Mortgage321 Specialist Mortgage Advice
Bank Of England - Mortgage Interest Rates Slightly Fall

According to Matthew Pigrome, founder and mortgage expert at Mortgage321, mortgage rates have been on a consistent rise for most of the year. Nevertheless, there has been a recent downshift, with some rates experiencing a decline. This trend is attributed to the recent announcement that inflation dropped to 7.9% in the year to June, providing some relief to lenders.


Looking ahead, the Bank of England is anticipated to raise its Base Rate by just 0.25 percent at the next adjustment on August 1. This upcoming rate change could potentially explain the dip in mortgage borrowing costs. Experts advise borrowers to be proactive in sourcing a new mortgage deal now to take advantage of the current situation before rates potentially rise again.


As the market continues to fluctuate, being vigilant and staying informed about the latest developments can be crucial in securing the best mortgage rates. Stay tuned for further updates and expert advice to navigate the ever-changing mortgage landscape.


Act now and explore your mortgage options to make the most of the current market conditions. Our team at Mortgage321 is here to help you find the best deal tailored to your needs. Don't miss out on potential savings - get in touch today! 🏡 Call 01255 440142 or visit www.mortgage321.co.uk.


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