Homeowners are being warned that mortgage rates of below 4% will not return until next summer, despite marginal falls prompted by Wednesday’s lower-than-expected inflation figures CallumCMason reports
He explained that borrowers could expect “a little bit of price reduction” this summer, but said it would “not be significant.”
Fixed-term mortgages don’t directly correlate to the Bank of England base rate, but tend to move in line with long-term predictions of where the rate will move to. She also explained that lenders who did reduce rates would have to cope with advisers “swamping them with new applications,” which could cause problems of its own.
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