Newry Mortgage News: Base Rate Held at 3.75% – What it Means for Your Home

Latest Mortgage News: Rates Held at 3.75%
The Bank of England’s Monetary Policy Committee (MPC) voted 5–4 this week to hold the base rate at 3.75%. While this offers stability for those on tracker mortgages, the “knife-edge” vote suggests further cuts could be on the horizon for Spring 2026 as inflation is expected to hit the 2% target.

Market Trends for Newry Homeowners
Rising Fixed Rates: Despite the base rate hold, several major lenders—including Nationwide, HSBC, and Virgin Money—have increased fixed-rate deals this week due to rising wholesale “swap rates”.
Local Growth: Northern Ireland continues to be the UK’s strongest-performing region, with Belfast and surrounding areas like Newry seeing some of the highest price gains.

First-Time Buyer Opportunities: New “low-deposit” products are emerging, such as Santander’s 98% LTV mortgage, designed to help first-time buyers enter the market with just a 2% deposit.
Average Rates Today:
2-Year Fixed: ~4.85%
5-Year Fixed: ~4.95%
Standard Variable Rate (SVR): ~7.16%

Why Consult a Newry Mortgage Broker?

With many fixed rate deals coming to an end this year, homeowners can face a payment shock when their current deal ends. A local Newry Mortgage Advisor can help you :

• Lock in rates early. You can often secure a new deal up to 6 months before your current deal ends.
• Access broker only deals. Many lenders offer exclusives through intermediaries that cannot be matched on the high street.
• Navigate NI specific deals. Get expert advice on self build options common in Newry and throughout NI.