PAYING a mortgage off early might seem like a pipe dream for most people. It’s typically the largest debt you’ll ever have, taking decades to pay off. 2 Pay your mortgage off early on an average wageCredit: Alamy But it is possible to make that dream a reality, even on an average wage. Monthly mortgage
INTEREST rates are likely to fall at the fastest pace since the 2008 financial crash, economists are predicting. The Bank of England is widely expected to cut its base rate on Thursday from 4.5% to 4.25%. 1 Mortgage lenders have been slashing interest rates in recent weeksCredit: Alamy This would mark the second rate reduction
Fears of an economic slowdown are expected to prompt a Bank of England rate cut next week – with more to follow – leading to potentially big savings for millions of mortgage borrowers The Bank of England could slash its base rate to 3.75% this year in a boost to the home sales(Image: Yui Mok/PA
THE average two-year fixed mortgage rate has dropped below the average five-year fixed rate for the first time since Liz Truss’ mini-Budget. The average two-year fixed rate for those with a 40% deposit is now 4.18%, while the average five-year fixed mortgage rate for those with a 40% deposit is 4.19%, according to data firm
The base rate influences what you’re charged to borrow money – for example, if you have a mortgage or loan – as well as the return you get on your savings 12:00, 20 Mar 2025Updated 13:00, 20 Mar 2025 Bank of England has holds interest rates at 4.5% The base rate has been held at