Why Now Is the Time to Move: Falling Mortgage Rates Create the Perfect Window for Buyers

The Bank of England’s decision on 7 August 2025 to reduce the base rate from 4.25% to 4% has offered a welcome boost for homeowners and buyers alike. As the fifth cut since August 2024, it has already begun to ease the financial pressure on households. Borrowers with tracker mortgages are seeing monthly repayments fall, and those on standard variable rates are also benefiting where lenders pass on the reduction.

Lenders have been quick to adjust their fixed-rate deals too, with several now offering two- and five-year mortgages at below 3.8%—the most competitive deals we’ve seen for some time. For anyone considering buying a new home, these lower borrowing costs present a significant opportunity to secure an affordable long-term mortgage.

Are further cuts expected?

While the latest cut is positive news, many economists believe we are unlikely to see further reductions in 2025. Members of the Bank of England’s Monetary Policy Committee have been vocal about the risks of loosening monetary policy too quickly. Their concern is that inflationary pressures could easily resurface, forcing the Bank to hold firm or even reverse course. Market analysts are now suggesting that the rate is likely to stay at or around 4% until well into 2026.

That assessment suggests that now is a good time to borrow. Many of the best fixed-rate deals are only available for a limited time, and with long-term government borrowing costs still climbing, there is every chance that lenders will begin to tighten pricing again later in the year. Added to this is the potential for house prices to edge upwards as affordability improves for more buyers, which could leave those who delay facing higher purchase prices as well as higher borrowing costs.

Ready to move? Reduce your mortgage costs at Calder Mews

For those ready to make the move, Erris Homes offers an outstanding opportunity to combine the advantages of today’s mortgage market with the benefits of a high-quality new-build home. At Calder Mews in Greetland, Halifax, we’re offing stylish, energy-efficient homes designed for modern living. With the reassurance of a new-build warranty, these homes offer comfort, practicality, and long-term value in equal measure.

From open-plan kitchens where families can cook and eat together, to spacious lounges perfect for cosy evenings, and private gardens ready for summer barbecues, every detail has been thought through with real life in mind. With a variety of layouts in both Phase I and Phase II, there’s a home to suit every stage of the journey—whether you’re just stepping onto the property ladder or upsizing to give your family more room to grow.

Erris Homes also works in partnership with Evolve Financial Solutions, a specialist broker with expertise in new-build mortgages. Through this exclusive relationship, buyers can access lending products not widely available elsewhere, including innovative schemes such as the “Own New Rate Reducer,” which allows Erris to contribute towards your mortgage to bring down both the interest rate and monthly payments. Alongside this, Evolve provides fee-free mortgage advice and ongoing support, helping buyers to secure the most competitive deals in the market today.

The recent base-rate cut has opened a valuable window of opportunity, but it may not last. With mortgage rates lower, new-build incentives available, and stunning new homes ready to move into, there has rarely been a better moment to take the next step at Calder Mews.

To enquire about the latest availability at Calder Mews and arrange an appointment to view, contact Edkins & Holmes on  01422 310044 or email enquiries@edkinsandholmes.co.uk