Welcome news today for mortgage-payers: The Bank of England reduced interest rates by 0.25% to 4.75% as was widely expected. Plus the BOE hinted that another may follow in December. This is because inflation has fallen to 1.7%. 

For tenants in private rented homes, this may also be some good news as it will help to kerb escalating landlord costs which lead to rising rents, however rates are still significantly higher than they were in 2020 when it was just 0.10%. Whilst we don't expect rates to fall to that amount again anytime soon, landlords are stilling paying more than double in their mortgages since Septemeber 2022 when they were 2.25%, so tenants shouldn't expect any decrease in their rent.

The cut may also help boost property prices - if you would like a free valuation please get in touch.

Landlord? We offer LET ONLY or LET & MANAGE at highly competitive rates.