Mortgage Rates

The Bank of England has reduced interest rates to 4.5% in February 2025, aiming to ease inflationary pressures. Nationwide Building Society responds by lowering its Standard Mortgage Rate to 7.24%, effective from 1 March 2025. The mortgage market sees increased competition with new sub-4% fixed-rate deals, amidst a cautious economic outlook.

Following the Bank of England's decision to cut the base rate, major lenders like Barclays, HSBC, Nationwide, and Santander have reduced mortgage rates, benefiting borrowers on tracker and standard variable rate mortgages.