Interest rate cut - reaction from Nick Jones of Access FS

07 August 2025

Nick Jones, the mortgage sales and marketing director at Access FS, said:

“Despite inflation data for June coming in at 3.6 per cent, markets were pricing in a 97 per cent chance of a rate cut today. So, this wasn’t exactly a surprise. What’s been cloudier for a while is where the Bank of England goes from here. Personally, I think it is now much more likely that best-buy rates could come close to 3 per cent next year. The lowest rates available at the moment – for people with big 40 per cent deposits or lots of equity in their homes – are just over 3.7 per cent. Given the base rate was 5.25 per cent in August 2023, that’s already looking pretty positive. But if the MPC continues to lower the base rate – especially if inflation weakens and the labour market softens further – mortgage rates could continue to drop into 2026.”