2024 Mortgage Interest Rate Forecast Uk. If you’re looking to remortgage or buy your first home, a cheaper deal can make a big difference to your monthly finances. Uk interest rates were cut on 1 august 2024 for the first time since 2020, bringing relief to many households and businesses struggling with higher mortgage.
Whether mortgage rates will go up or down in 2024 depends on a few things. Mortgage arrears are forecast to rise from 105,600 cases by the end of 2023 with arrears of over 2.5% of the outstanding balance, to 128,800 by the end of 2024.
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