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The Guardian - UK
The Guardian - UK
Business
Rupert Jones

What can I do about my mortgage now the base rate has been cut?

A crescent of terraced houses in Kennington, London
House hunters are urged to act quickly by property experts as rising house prices may cancel any gains in lower mortgage rates. Photograph: Alamy

Last week’s Bank of England interest rate cut, the first since 2020, spelled good news for millions of homeowners and would-be buyers – but it has also given them lots to think about.

If you are looking to buy a home, what sort of mortgage do you go for, and is this going to push house prices even higher? And if your existing mortgage deal is about to end, should you grab another one right now, or hold fire in case lenders launch cheaper products?

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