Just Mortgages comments on BoE MPC decision

06 February 2025

Ben Allkins, head of mortgages and protection at Just Mortgages, said:

“Given the recent positive news on inflation, this had to be the logical next step for the central bank. While a persistent threat, we cannot become too blinkered by managing inflation and allow the economy to stagnate. This positive step will hopefully be the adrenaline shot the economy needs and serve as the starting pistol for many borrowers to put their plans in action.

“Compared to the previous cut, we have to hope swap rates react positively too and move as we’d expect. With a little bit of breathing space and financial year-end approaching for many lenders, it may be enough for some to take another look at their pricing. Brokers hearing this today need to mobilise and get out among their clients and their community to share this good news. We’ve seen already this year that appetite is certainly there. We now need to demonstrate the opportunities that exist as they try to navigate the market.”