Mortgage Rate Cuts Spark Buyer Frenzy

The mortgage market is buzzing with excitement as falling rates tempt homebuyers to switch deals even after starting the buying process.

Recent research reveals that over 75% of buyers are being wooed with improved mortgage offers, thanks to brokers eager to present better deals.

Simon Nosworthy from Osbornes Law highlights this trend, noting it's an unprecedented time for buyers. With properties lingering on the market and prices stabilising, it’s a buyer’s paradise. Nosworthy exclaims, “Never have I seen so many clients change their mortgages during the buying process.”

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The Bank of England’s recent interest rate cut to 4.25% has further fuelled this frenzy. Nosworthy advises those hesitating to jump into the market to reconsider, as motivated buyers are already making moves.

Moneyfacts data shows a significant drop in average mortgage rates, with two-year fixed rates seeing the biggest monthly fall since October 2024. Rachel Springall from Moneyfacts attributes this to falling swap rates and lenders’ eagerness to adjust their offerings.

With Spring and Summer being peak property seasons, now is the perfect time for buyers to act swiftly. Secure your dream home and the best property professionals to guide you through the process. The mortgage market is ripe with opportunity, and the time to seize it is now!

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Want to hear more? Join Mal & Matt on the Property AI Report Podcast each week!

Access from your preferred podcast provider by clicking here

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