On 7 August 2025, the Bank of England reduced its interest rate to 4% – marking its lowest level since March 2023 – and the fifth interest rate cut in just over 12 months.
If you’re on a tracker or standard variable rate (SVR) mortgage, your payments are likely to reduce. Many households will benefit from this change as lenders begin to adjust their rates.
For those on fixed-rate deals, this cut won’t bring any changes. However, it is already influencing the market, with lenders starting to offer more competitive fixed-rate options.
With more competitive deals becoming available, many borrowers are reviewing their current mortgages and exploring new options, with remortgaging activity expected to increase as borrowers seek to capitalise on better rates.
The latest rate reduction is likely to benefit the housing market too, with more buyers and movers encouraged by improved affordability and lender flexibility.
If your mortgage rate is coming up for renewal or in the next six months, you could benefit from switching to a new lender with the help of OVISO. It's worth noting that, typically, many mortgage offers remain valid for up to six months.
If you’re a first-time buyer
Lower rates make buying your first home more achievable. Our team can help you understand your options and estimate the amount you may be eligible to borrow.
If you're on a tracker or SVR mortgage
Your payments may soon be reduced. It’s a good time to check your current deal with your mortgage advisor and consider whether switching could benefit you in the long term.
If your fixed-rate mortgage is ending soon
More competitive deals are emerging, so reviewing your options early could help you secure a better rate.
With the mortgage market moving quickly, Oviso are here to guide you through every step of your mortgage journey. Whether you're remortgaging, buying your first home, or simply exploring your options, our team is ready to offer expert, personal advice tailored to you.
Why not get in touch with our friendly advisors to explore the options available for your specific circumstances.
To find out more about mortgages, personal insurance, business insurance and protection or to discuss the options available for your circumstances, contact our team of advisors
