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What It Means for Homeowners in Cobham, Gravesend & Meopham

The Bank of England has confirmed that the base rate will remain at 4.25%, following its June 2025 review.

As a mortgage broker based in Cobham, near Gravesend, and Meopham, we’ll help you understand how the Bank of England’s base rate decision affects you — especially if you’re thinking about remortgaging or coming to the end of a fixed rate.

This rate hold brings both stability and opportunity — particularly for those considering a remortgage or planning a move later this year

Here’s what you need to know...

The Bank of England has today cut the base rate from 4.5% to 4.25%, bringing interest rates down to their lowest level in over two years. This is the second-rate reduction of 2025 and the fourth since the peak of 5.25% last summer.

While this move was widely expected, the announcement still raises questions for homeowners, buyers, and anyone considering a remortgage — especially with further rate cuts possible later this year.

Here’s what you need to know...

The Bank of England (BoE) has decided to keep the base interest rate at 4.50%, maintaining the level set in recent months. But what does this decision mean for homeowners and those looking to remortgage?

Here’s what you need to know...

For the second time in 2024, the Bank of England has reduced the base rate, lowering it from 5.00% to 4.75%. While not a unanimous decision, the reduction reflects the central bank’s ongoing efforts to ease financial pressures.

However, Bank of England Governor Andrew Bailey has indicated that while additional cuts may be on the horizon, a further rate reduction in December is now less likely following recent budget announcements. Instead, gradual rate reductions are expected to extend into 2025.

What Does This Mean for Your Mortgage Payments…..

The Bank of England have voted 8-1 to keep interest rates at 5.00%. One member voted for a rate cut to 4.75%.

Finally…the Bank of England voted in favour of reducing base rate to 5.00% – marking the first time rates have been cut since the global pandemic in 2020.

This will be a welcomed relief for homeowners on variable rates, but bad news for savers.

What does this mean for mortgage holders?

Finally…the Bank of England voted in favour of reducing base rate to 5.00% – marking the first time rates have been cut since the global pandemic in 2020.

This will be a welcomed relief for homeowners on variable rates, but bad news for savers.

What does this mean for mortgage holders?

The Bank of England have voted 6-3 to hold interest rates at 5.25% for a second month in a row. This marks a contrast to the 5-4 vote back in September, where the central bank was narrowly in favour of keeping rates unchanged.