Overview
- Some lenders have begun lowering fixed and variable mortgage deals, with Nationwide cited as competing more aggressively for new business.
- Roughly 500,000 tracker borrowers are estimated to save around £30 per month, offering immediate but limited relief.
- Industry figures say the reduction could unlock pent‑up demand and improve affordability for first‑time buyers after a prolonged slowdown.
- A We Buy Any Home survey reports 53% of respondents see interest rates as the main barrier to moving home, highlighting sensitivity to borrowing costs.
- The cut passed by a 5–4 MPC vote, and analysts say markets currently expect only one additional reduction in 2026.