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The Bank of England has recently cut the base rate to 4%, the lowest level since early 2023. This move is designed to support the UK economy by making borrowing cheaper and stimulating market activity. But what does it actually mean for you—whether you’re looking to buy your next home or sell your current one?
Buying your first home is an exciting milestone, but it can also feel overwhelming. With so much to consider—budgets, mortgages, legal paperwork, and finding the right property—it’s easy to feel lost in the process. This guide outlines the key things every first-time buyer should know before taking that first step onto the property ladder.
In August 2025, the Bank of England’s Monetary Policy Committee (MPC) voted by a narrow 5–4 majority to reduce the official Bank Rate from 4.25% to 4%. This is the lowest interest rate since March 2023 and marks the fifth consecutive cut since August 2024. For homeowners considering selling, this change could represent a golden opportunity.
As a tenant, one of the biggest questions you’ll face is whether to save money by choosing a cheaper property in a less desirable area or stretch your budget for a better location. It’s not a simple decision. Your choice can affect not only your monthly finances but also your quality of life, career opportunities, and even long-term wellbeing.