Ahead of today’s Bank of England base rate decision, brokers are seeing a notable shift in borrower behaviour, with more clients opting to secure deals early rather than risk further market movement. The Mortgage Broker has shared insights into how ongoing volatility is shaping decision-making, and why a hold on rates may not necessarily translate into immediate pricing relief.
Sam Kirtikar, CEO of The Mortgage Broker Group, said:
“In the run-up to today’s Bank of England decision, we have seen a clear rise in clients wanting to review their options early and lock in a rate rather than wait and hope. The mortgage rate volatility represents the volatility that everyone felt around the world, with there suddenly being a lot of uncertainty in the mortgage market, and that has absolutely made our clients much more cautious about leaving things too late and waiting.
We have seen plenty of rate switches in recent weeks, with many borrowers keen to secure something now in case lenders reprice again or withdraw deals at short notice. Even if the BoE holds, that doesn’t automatically mean mortgage pricing will suddenly drop again as lenders are still responding to wider market conditions and funding costs.”
