Mortgage Rates: What the Bank of England Decision Means for Borrowers

The Bank of England’s Monetary Policy Committee voted 7‑2 to maintain the base rate at 5.25% this month. While no change was expected, several major lenders have already started reducing their fixed‑rate mortgages, anticipating future cuts.

Brokers are advising borrowers whose fixed terms end within the next six months to start shopping now. “The market is moving fast,” said David Hollingworth of L&C Mortgages. “We’re seeing five‑year fixes dip below 4.5% for the first time since February.”

However, those with large deposits or equity remain the biggest winners, with the best rates reserved for 60% LTV products.