The Bank Rate Falls to 4%: What It Means for Your Move
What Happened?
The Bank of England has reduced the Bank Rate from 4.25% to 4.00%, its fifth cut in just over a year and the lowest level since March 2023. The decision was close, showing how carefully policymakers are balancing inflation, which is still around 4%.
What This Means for Your Move
Cheaper Mortgages
If you’re on a tracker or variable-rate mortgage, your monthly repayments should drop. That frees up cash for moving costs or home improvements.
Savers Feeling the Pinch
While borrowing gets cheaper, savings accounts are already paying less. With inflation still high, your money may not stretch as far, so careful budgeting is key when planning a move.
Good Timing Matters
If your mortgage deal is ending soon, now could be a smart time to explore new options. Acting early might save you hundreds over the course of your move.
The Bottom Line
Lower rates bring some welcome relief for movers, but rising living costs mean budgeting has never been more important. At MooveIt Removals, we’ll help you plan your move smoothly, keeping it stress-free and cost-effective.
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