Last week the Bank of England announced the first reduction in the bank’s base rate since March 2009, taking it to a new historical low of 0.25%.
This is good news for borrowers and the housing market as new lower rates will attract buyers, furthermore, buy-to-let investors could see an increased return on cash invested due to lower outgoings.
Our resident mortgage advisor Andrew Fagg, had this to say;
“With the recent cut in interest rate there are excellent mortgage rates available for borrowers, tracker rates in particular will benefit from this historic reduction”.
If you would like advice on a new mortgage, switching to a different provider for a better rate or a Buy to Let mortgage, please contact Andrew who will be happy to help and advise of all aspects of borrowing.
You can call him on 07720 353866, or email firstname.lastname@example.org.
Davenport Financial Management Limited is authorised and regulated by the Financial Conduct Authority. Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it.