RF Mortgage Solutions

Wishing you all a Merry Christmas! Best wishes and Season Greetings, from RF Mortgage Solutions.

Bank of England holds interest rates at 5% https://lnkd.in/eqRnFnJ6   Andrew Bailey at the Bank of England has decided in an 8-1 majority to keep the bank base rate at 5% with the next review due on 7th November 2024. The reason for doing so is to ideally cool the pressure on inflation which in turn should mean gradual interest rate cuts over the coming months. Andrew Bailey has continued to add that “it’s vital that inflation stays low, so we need to be careful not to cut too fast or by too much”.   Based on the news, 2 year SWAP rates [which are determined by market trends such as supply and demand as well as the expectation of future interest rates movements] at the time of publishing are between 4.032%-4.092% and have remained fairly buoyant. However, not all is lost. Banks and Building Societies will continue fighting for market share and therefore still expect some lenders to undercut the competition by reducing mortgage interest rates.   Inflation is predicted to increase from the current 2.2% to 2.5% by the end of the year [a decrease of 0.25% from the last MPC meeting] but this is expected to decrease into 2025.   Whilst all is not lost, it will just take a little more time before we see further reductions.

Bank of England holds interest rates at 5% https://lnkd.in/eqRnFnJ6   Andrew Bailey at the Bank of England has decided in an 8-1 majority to keep the bank base rate at 5% with the next review due on 7th November 2024. The reason for doing so is to ideally cool the pressure on inflation which in turn should mean gradual interest rate cuts over the coming months. Andrew Bailey has continued to add that “it’s vital that inflation stays low, so we need to be careful not to cut too fast or by too much”.   Based on the news, 2 year SWAP rates [which are determined by market trends such as supply and demand as well as the expectation of future interest rates movements] at the time of publishing are between 4.032%-4.092% and have remained fairly buoyant. However, not all is lost. Banks and Building Societies will continue fighting for market share and therefore still expect some lenders to undercut the competition by reducing mortgage interest rates.   Inflation is predicted to increase from the current 2.2% to 2.5% by the end of the year [a decrease of 0.25% from the last MPC meeting] but this is expected to decrease into 2025.   Whilst all is not lost, it will just take a little more time before we see further reductions.

Bank of England reduces it based rate from 5.25% to 5%. https://lnkd.in/epfTu5ak

I couldn't agree more! It's great to be back #proudtobeprimis

I just wanted to share my very first YouTube post with you. I hope that you like it: https://lnkd.in/ehwhniEZ

Although Bank of England held the Bank Base rate, HSBC have announced that they are reducing their rates from their product range tomorrow. This follows on from Barclays and MPowered rate reductions.

And, we are live! The day has finally come, and I am very proud to announce RF Mortgage Solutions. Specialist Mortgage Broker in Kent and surrounding areas. I'm looking forward to connecting with you all.