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Since the October 2024 Budget, UK mortgage rates have largely stabilised, reflecting broader market shifts and expectations of future Bank of England (BoE) rate cuts. Fixed mortgage rates steadily declined from their June 2024 peak (5.16%) to a low of 4.5% in October 2024 as lenders priced in falling inflation and potential monetary easing.
However, rates have since edged up slightly to 4.76% in January 2025, suggesting that while fixed-rate deals remain competitive, lenders are cautious about pricing in further BoE cuts too soon.
Tracker rates dropped sharply from 5.67% in October to 5.0% in November 2024, aligning with the BoE's base rate reduction to 4.75%. As of January 2025, tracker rates (4.97%) are at their lowest level in over a year, but not by much. This reflects lender beliefs that BoE rate cuts are unlikely to be large or frequent during their product duration.
For borrowers, fixed rates remain stable but could rise slightly in the short term, making this a good time to lock in a 4.5-5% deal before lenders adjust pricing. However, as analysts have predicted, tracker mortgages may become more attractive if BoE rate cuts continue.
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Overall my experience was a wonderful,simple quick and painless task done at my pace at times suitable for me even with a more complicated one this time.
I've gone back to them a few times with changes or to get a better deal based on interest rate changes etc. and they have always found a better deal.
I am amazed at how Easy Horizon Broker Services have made the remortgaging process. I was able to send them all the relevant details within a few seconds
Very easy and smooth remortgage. They were helpful and knowledgeable. This is my consecutive time with Horizon and I would not go anywhere else. Thankyou
If you’re looking for a mortgage broker who genuinely cares about their clients and makes the process as simple as possible,Horizon Broker Services is the way to go. I highly recommend them!
Second time that I have used Horizon and both times have been easy and straightforward. They kept me informed every step of the way. A great experience and highly recommended.
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You may have to pay an early repayment charge to your existing lender if you remortgage. Your savings will depend on personal circumstances.
Your home may be repossessed if you do not keep up repayments on your mortgage.
It is important to consider insurance and protection when taking out a mortgage. We will speak to you about this and give you the option to be referred to a protection specialist for advice.
The information provided here is for general guidance only. Please consult with our advisors for advice specific to your circumstances.
