Are mortgage rates going down? What the latest rate cut means for self-builders and renovators

A UK Banknote for a Sterling Pounds Mortgage with a green toy house and a pen
Are mortgage rates going down following the BoE's decision to drop mortgage rates? (Image credit: Getty Images)

Mortgage rates are starting to fall as the Bank of England cuts its base rate to 4.25%, the fourth reduction in less than a year.

This decision reflects easing inflation and aims to make borrowing more affordable across the housing market.

Bradley Post headshot
Bradley Post

Bradley Post is the Managing Director of RIFT Group, where he focuses on helping workers, particularly in construction, navigate financial challenges. With expertise in tax and borrowing, he frequently shares insights on the mortgage market and cost of living issue.

Stephanie Daley
Stephanie Daley

Stephanie Daley is the Director of Partnerships at Alexander Hall, where she advises lenders on technical product development and criteria, helping them introduce or expand offerings in the intermediary mortgage market.

Jean Jameson headshot
Jean Jameson

Jean Jameson is the Chief Sales Officer at Foxtons, based in London, with over 20 years of experience leading high-performing sales teams in the property industry.

Robert Sadler headshot
Robert Sadler

Robert Sadler has over 20 years of experience in debt advisory, lending, and real estate equity investment. He spent 14 years as a lender for banks. At Excellion Capital, he specialises in refinancing and debt restructuring.

Joseph Mullane
News Editor

News Editor Joseph has previously written for Today’s Media and Chambers & Partners, focusing on news for conveyancers and industry professionals.  Joseph has just started his own self build project, building his own home on his family’s farm with planning permission for a timber frame, three-bedroom house in a one-acre field. The foundation work has already begun and he hopes to have the home built in the next year. Prior to this he renovated his family's home as well as doing several DIY projects, including installing a shower, building sheds, and livestock fences and shelters for the farm’s animals. Outside of homebuilding, Joseph loves rugby and has written for Rugby World, the world’s largest rugby magazine.