Couple holding an Erris Homes

Homebuyers can look forward to a wider range of purchasing opportunities in 2024 with renewed confidence and further cuts to mortgage rates.

After a period of prohibitive lending rates, the tide began to turn towards the end of 2023. Increased competition between banks was driven by falling inflation and speculation over future Bank of England base rate cuts. It resulted in a series of cuts by major lenders which has continued through the turn of the year.

The first week of 2024 brought news of rates dropping to their lowest levels since the mini-budget of September 2022. The Co-op Bank cut rates by up to 1.26 percentage points and released a two-year fixed-rate product at 3.85% for existing customers whose fixed deals are coming to an end. According to a report in the Times, it represented the first time in 15 months that a two-year fixed rate has been offered at a rate below 4%. Many economists are predicting that the Bank of England will lower the base rate in the second half of 2024.

Homebuyers have also been encouraged by reports suggesting a healthy long-term outlook for the housing market. Property expert Savills released research in November which forecasted house prices to be around £45,000 higher (up almost 18%) on average by 2028.

Purchasers looking to invest in a new-build home can now take advantage of a wider choice of mortgage solutions. Erris Homes have teamed up with new-build mortgage specialist, Evolve Financial Solutions, to offer an exclusive new option with the launch of the Own New scheme. Own New takes a contribution from Erris Homes and uses it with the lender to reduce the rate and lower the customer’s monthly payments. Own New is now available at our Calder Mews development in Greetland.

To find out how much you could potentially save with Own New, contact Erris Homes on 01422 553 510, or

You can check our current availability at Calder Mews here: Calder Mews - New build homes in Greetland, Halifax (

If you’re having problems selling your current  home,  Erris Homes’ Smart Move scheme allows you to relax while we take care of the hassle and manage the process on your behalf.

With Smart Move, we’ll find the right estate agent and the best price for your current home. We’ll also ease your financial burden by paying the agent’s fees. Further information about Smart Move is available here: