Interest rates: What does a 0.25% cut mean for your mortgage, savings and bills?

Interest-Rates.Info - UK Mortgage & Property News - Birmingham Money - West Bromwich Money - Mortgage Brokers

The Bank of England (BoE) have today announced their base rate is to be cut 25 basis points, leaving the Bank Rate – what we might simply call the interest rate – at 4.5 per cent, the lowest it has been in the UK since mid-June 2023.

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Budget fallout triggers surprise fall in mortgage approvals

Interest-Rates.Info - UK Mortgage & Property News - Birmingham Money - West Bromwich Money - Mortgage Brokers

The number of mortgage approvals made to home buyers dipped in November, although it remained above the monthly average seen over the past year, according to Bank of England figures.

Some 65,700 mortgage approvals for house purchases were recorded in November. That’s some 2,400 lower than October but above the previous 12-month average of 60,400.

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