The base rate is held, in a bouyant and busy mortgage market

The Bank of England today held the base rate at a record low 0.1%.

Despite the bank's desire to keep borrowing costs low in order to spur economic growth, mortgage rates have now started to rise, in large part due to the sheer volume of activity underway in the property market. Last month there were more mortgages issued for house purchase than any month since October 2007.

However, rates remain extremely attractive compared to historic norms and thanks to our relationships with more than 180 lenders, we have access to the best products available. It may be the case that we can secure a reduction in your monthly outgoings.

We welcome the government's decision to keep the property market open during the prevailing restrictions to contain the pandemic. Estate and letting agents can operate, show homes and sales suites can remain open, and property viewings, mortgage valuations and surveys can take place.

If you're considering moving home or remortgaging, or would like an informal discussion to discuss your finances, please don't hesitate to get in touch with us.