Following the Bank of England’s decision to maintain the base rate and the unveiling of encouraging inflation data, we’ve seen a number of lenders reduce rates across their products, with some announcing sub-5% deals ✂
We’re also observing a gradual but consistent reduction in Sonia swap rates. Given that swap rates are one of the main tools for lenders pricing fixed-rate mortgages, a drop in Sonia swap rates indicates we are likely to see lenders make more reductions across their fixed rate products.
“This is a promising market response,” comments Sunny Budhdeo, Director of Unique Property Finance. “We’re definitely moving in the right direction. And as long as economic data continues to be positive, we could see more lenders introducing sub-5% rates and more competitive pricing across the entire market.”
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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