The housing market has received a boost. Following on from the Bank of England’s decision to cut the base rate of interest to the historic low of 0.25% many lenders tracker rates have fallen to below 2% for the first time ever. Resulting in lower mortgage repayments this may give the general economy a post Brexit boost as some consumers may have more disposable income to spend on goods and services.

Unbelievably there is speculation that there could be another rate cut! This has resulted in some fixed rates edging downwards.

It is hoped and maybe even expected that cheaper borrowing may help to stimulate a slightly slower housing market caused by Brexit uncertainty, changes to stamp duty and challenges in the local oil and gas industry.