Good news if you’re looking to move this year, as Bank of England base rates stabilises

02 February 2024

Held rates and the prospect of lower inflation is a promising sign for homebuyers, say new build mortgage experts.

Recently, the Bank of England voted to maintain interest rates at 5.25%, after raising rates steadily for the last couple of years.

Although not the drop that many hoped for, there are indications that the next change could be downwards, and inflation is also forecast to fall back to 2%.

So, what does this mean if you’re thinking about buying a new home?

Matt Halder, Managing Director of Threshold Mortgages says the recent news implies 2024 could be the right time to take the plunge if you’re looking to make a move.

“The Bank of England Monetary Policy Committee holding the Base Rate at 5.25% goes a long way to vindicate lender decision-making since the start of the year, in reducing rates, increasing loan multiples, and introducing pre-covid criteria,” says Matt.

“With the expectation of inflation continuing to fall, and the base rate likely to have peaked, 2024 offers a great opportunity for buyers seeking a new build property.”

“The mortgage market is again competitive, with rates and lender affordability making home ownership a reality rather than a dream.”



This sentiment is shared by Oliver Peace, Founder and Managing Director of James Leighton Financial Services, who suggests a combination of factors aligning could be the change buyers have been waiting for – especially those considering a new build.

“As the Base Rate and inflation drop and incomes catch up with the cost of living, coupled with meaningful reductions in mortgage product rates, many more borrowers will find that their dream home is within reach”, Oliver says.

“With many commentators expecting the Base Rate to drop towards 4.25% by the end of 2024, demand for high quality, energy efficient properties will continue to increase.”

The positive market outlook is particularly promising for anyone considering a new Persimmon home, given the added opportunity to take advantage of limited-time offers.

Until 18th February, buyers could receive up to £20k contribution towards a new Persimmon home. Alternatively, we’re offering up to £10k when you Part Exchange with us, to put towards your deposit, mortgage or Finishing Touches. (T&Cs apply, it's possible click to find out more.)



For specialist new build mortgage advice, visit Threshold Mortgage Advice or James Leighton Financial Services.

Finishing Touches

Create a look that's as individual as you are. Add the finishing touches to your Persimmon home.

Supporting your communities

At Persimmon we're proud to support our local communities. Our Community Champions programme was established in 2015 and has already donated more than £3 million to over 3,500 good causes across Great Britain. We also have a programme of community events taking place as part of our partnership with Team GB for the 2024 Paris Olympics, along with other great initiatives. 


Community Champions logo

Our hugely successful Community Champions programme has already donated more than £1 million to good causes in England, Wales and Scotland. Whilst the programme is running, each of our regional offices makes a donation of up to £6,000 every quarter to local organisations.

Persimmon Homes official partner with Team GB

We're proud to be one of Team GB's official partners for Paris 2024. In the lead up to the Olympics we'll be posting lots of exciting content in partnership with Team GB, from athlete appearances to competitions and challenges.

Showcase your style

Why not share your own photos on Instagram using #lovemypersimmonhome for a chance to win a £100 iKEA voucher. Visit our Facebook page for terms and conditions.