Bank of England votes to hold the base rate at 4.5%.
This decision shouldn’t give potential and current homebuyers much cause for concern. A small rise in inflation and a degree of economic uncertainty globally brought a cautious approach from the Bank of England, and many people will be relieved that the Bank is playing it safe.
With the Spring statement due to be presented on 26th March 2025, all eyes are now firmly on the Chancellor to explore alternative avenues to help create a more accessible housing market and make homeownership more affordable for aspiring first time buyers and home movers!
Charles Hart of LionHart Mortgages & Protection comments: “Whether you think you’re able to buy now or further down the line, we urge you to speak to a mortgage adviser as they can provide expert guidance and support specific to your circumstances. This could mean you are mortgage ready sooner than you think, while also securing the right deal for your financial circumstances.”
