July 2024 Mortgage rate reductions

🔑 July Mortgage Update: Lower Rates, But Should You Act Now? 🔑
If you're a first-time buyer, home mover, or looking to remortgage, July brings promising news! A number of mortgage lenders are reducing rates, making it an ideal time to secure a mortgage. 🏡💼
Following a period of lack of demand due to a period of lenders increasing rates, and an upcoming general election banks and building societies are keen to meet their targets by offering more competitive rates. 📉
While these reductions are a positive sign, they're modest compared to earlier this year. Given the uncertainty of the general election and inflation concerns, it's crucial not to expect significant rate drops just yet. 🗳️📊
With inflation concerns remaining it may go back up and if there are any unexpected shocks in the general election it could delay the Bank of England from reducing the base rate. So, if you need a mortgage, act now and consult with a reliable mortgage adviser to review your options regularly. 🏦🔍
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP YOUR REPAYMENTS ON YOUR MORTGAGE.
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