Breaking: The Bank of England has cut the base rate by 25 bps to 5.0% from 5.25%. Out of 9 Monetary Policy Committee members, 5 voted for a cut and 4 voted to hold rates steady.
The Bank has implied that borrowers should not expect rates to come down as quickly as they went up. Markets think there might be one more cut this year, and that borrowing costs will come down quite gradually.
About The Author: Sunny Budhdeo
With a career that spans over 20 years, Sunny initiated his journey in the mortgage industry as an adviser at the prestigious estate agency Barnard Marcus. He quickly gained recognition for his expertise, particularly in specialist finance, focusing on complex buy-to-let loans and bridging finance. As the Co-Founder of Unique Property Finance, Sunny has become a linchpin in the industry, adept at solving intricate property finance issues and fostering strong relationships with lenders.
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