Bank of England cuts base rate to 4%
The Bank of England have today voted to cut the base interest rate to 4%. This is the 5th reduction in the past year. The initial vote failed to reach a majority, so an historic second vote was cast.
What does this mean?
Monthly mortgage costs may reduce, particularly for those on a variable or tracker mortgage and those who are about to take out a new mortgage or remortgage. However, it does mean a smaller return in interest for savers.
When is the next interest rate review?
The next scheduled meeting is on the 18th September 2025. There are two further meetings planned in 2025, one in November and one in December.
Learn more about current interest rates and scheduled reviews on the Bank of England Monetary Policy website here.
Article overview
The Bank of England has cut the base interest rate to 4% following a historic second vote - its fifth reduction in a year. This may lower monthly mortgage costs, especially for those on variable or tracker deals, but savers could see reduced returns. The next rate review is set for 18th September 2025.
Article overview composed with the help of AI
Disclaimer
newhomesforsale.co.uk is an information platform and not a financial advisor, mortgage broker or mortgage lender. Always get financial advice before making significant decisions about your money, mortgages and buying a house.
Publish date 7th August, 2025
Reading time: 1 minutes
Written by newhomesforsale.co.uk
