Comment on Bank of England interest rate decision from Ryan Davies, Strategy Director, Bluestone Mortgages

19 September 2024

Ryan Davies, Strategy Director, Bluestone Mortgages comments on today’s Bank of England interest rate decision: “Today’s decision will be a blow to borrowers across the country who were hoping for a further rate cut. Combined with a larger than expected drop in job vacancies and services inflation, the absence of a further rate cut may be seen as a missed opportunity.

“However, it’s not all doom and gloom. Over the last few weeks, we’ve seen increased competition in the mortgage market, with a growing number of lenders now offering sub 4% mortgages. For those looking to climb onto or up the property ladder in the current environment, speaking with a mortgage broker is a sensible first step. These professionals can point them in the right direction and help them take advantage of the low rates in order to make their homeownership dream a reality.”