Here at Mulberry Homes, we are happy to receive the news that mortgage rates across the country and lenders are falling, with the Bank of England reducing the base rate by 0.25% to 5%.

This cut is the first change in nearly a year and the first cut to base rates since early 2020, which has led to high street lenders such as Skipton, TSB, Halifax and Santander to further reduce their rates.  

We spoke to Tom Andrews, Director at Salcey Mortgages, about the falling rates and he said: “The Bank of England cut to the base rate is a huge confidence boost and hopefully the beginning of the end for 4% interest rates, and the return of high street lenders offering 3% rates.

“With these falling rates, we want to remind people that when you apply for a mortgage, your fixed rate is typically locked in. However, if rates decrease between your application and completion date, we can help ensure you get the lowest rate available at completion.”

With this exciting news, we are encouraging homebuyers to come and visit one of our developments to find out more about what offers are available and how they can secure their dream home.  

For more information on our developments, visit https://mulberryhomes.co.uk/.