Movera’s comment on BoE’s base rate decision
01 August 2024
“After months of anticipation, the Bank of England’s base rate cut today, albeit small, is to be warmly welcomed. Hopefully, this news should give the market a much-needed shot in the arm as potential housebuyers may now have the confidence to take the plunge. The market will no doubt be breathing a huge sigh of relief along with those borrowers on tracker mortgages and standard variable rates.
“The cut comes hot on the heels of the General Election which should usher in a period of increased political certainty. The new Government’s ambitious housebuilding plans alone are expected to boost supply in the longer term. Our focus at Movera will be on providing fast and reliable services for those who can now look to move or remortgage this year with more confidence.”
