Bank of England Reduces Base Rate to 4% – What It Means for Harrow

The Bank of England has today lowered the Base Rate to 4% following a 0.25 percentage point cut agreed by the Monetary Policy Committee. This is the third rate change so far this year and is part of the Bank’s strategy to keep the economy moving while continuing to tackle inflation, which remains above the 2% target.

While some may see this as a bold move given ongoing inflationary pressures, it reflects growing confidence in the UK’s economic outlook. Many analysts expect further reductions before the end of 2025.

For Harrow’s property market, this is positive news. Lower borrowing costs can make mortgages more affordable, helping more buyers take their next step and encouraging fresh interest from both first-time purchasers and those trading up. Sellers may also benefit from a livelier market as affordability improves.

At Rawlinson Gold Harrow, we are keeping a close eye on how the change influences local activity. If you are thinking about buying, selling, or reviewing your mortgage, now could be a good time to explore your options and take advantage of more competitive lending rates.