Sky News - What latest interest rate cut means for mortgages and changes experts expect in 2026
The Bank of England has cut its base rate to the lowest level seen in nearly three years.
The nine-member Monetary Policy Committee opted to reduce the rate to 3.75%, taking it below 4% for the first time since January 2023.
Aaron Strutt, director at Trinity Financial, agreed, saying the lowest two-year fixes already start from 3.51% and the best three-year fixes are not much more expensive.
"Over the next few months, I hope we will have more lenders offering fixed rates closer to 3.5%, which will get us back into the territory of cheap mortgages again.
"Most borrowers are opting for two-year fixes at the moment as they tend to be lower than the five-year fixes.
"If you preferred certainty, have a stable income and plan to stay in your home for several years - locking in a 5-year fix now, especially with a lender like Santander, Nationwide or NatWest - seems a solid choice.
"If you're more flexible or willing to take a bit of a gamble, or you might move in a few years, or you expect rates to fall significantly, a two or three-year fix is a good option."
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