Mortgage Rate Cuts: A simple breakdown
Good news if you’re searching for a new home!
The Bank of England has officially cut the UK interest rate from 4.5% to 4.25%*, making your journey to homeownership more affordable. This reduction presents possible positive changes for homebuyers, including lower borrowing costs and more competitive mortgage rates, offering a fantastic opportunity for first-time buyers and families looking to move.
What does this mean for you?
With interest rates dropping, it is expected that we may see more competitive mortgage offers become available, making monthly repayments more manageable. Whether you're a first-time buyer or looking to upgrade, this change could make your dream home more accessible.
Alongside this exciting news, we've got a variety of schemes available to help make your move easier to achieve, including:
- 5% Deposit Contribution - To help make your dreams become a reality, we offer a deposit contribution of up to 5% on selected plots and developments.
- Own New Rate Reducer - Exclusive to new build homes only, you can access some of the most competitive rates on the market with Own New Rate Reducer!
- First-time Buyer Assist - When you purchase your first home with Gleeson, we provide all first-time buyers with free flooring throughout.
At Gleeson, we are proud to build affordable, high-quality homes designed for first-time buyers and families. With this latest rate cut, there’s never been a better time to explore our developments and secure a home that fits your budget.
If you’ve been considering buying a home, explore our latest developments and find out how you can benefit from these new mortgage opportunities: https://gleesonhomes.co.uk/find-your-home/
*Source of information from The Independent, article published on 8th May 2025: https://www.independent.co.uk/news/business/interest-rates-bank-of-england-mortgages-b2743797.html
Please note, this blog does not substitute for professional advice. We recommend that you consult with a solicitor or professional adviser to ensure you have access to accurate information tailored to your specific circumstances.
