Brighton Homeowners: Bank of England’s Rate Cut Could Save You Money

12th February 2025

Good news for Brighton homeowners! The Bank of England has just lowered the base rate to 4.5%, the first cut of 2025. So, what does this mean for you?

If you’re on a tracker or variable mortgage, you’re in for a treat. Your monthly payments are set to decrease, as mortgage rates are likely to follow the base rate down. After months of high rates, this drop will come as a welcome relief. Now’s a great time to review your mortgage and see if you can secure a better deal.

For those considering a fixed-rate mortgage, the average 2-year rate has dropped to around 5%. This could be the ideal moment to lock in a more affordable rate before the market shifts again. In Brighton, this rate cut could make the dream of homeownership more achievable for first-time buyers.

Renting in Brighton and thinking of buying? This could be your chance!

This base rate cut could make it easier to make the leap from renting to buying. Lower mortgage rates could help you secure a better deal on your first home in our buzzing, seaside city.

Coming to the end of your fixed-rate deal? The rate cut could work in your favour.

If your fixed-rate deal is about to end, this rate cut could be a game-changer. Homeowners in Brighton looking to re-mortgage might find that the lower base rate offers an opportunity to secure better monthly payments, especially if you switch to a tracker or variable rate. This could help you ease the transition after your fixed deal finishes, potentially saving you money in the long run.

Whether you’re buying your first place, upgrading to a bigger home, or refinancing, Coapt is here to help. We’re experts in the Brighton property market and can guide you through how the rate cut could impact your mortgage. Get in touch with us today to discuss your options and see how we can help you make the most of this change.