Inflation and housing pressures
Households continue to feel the pinch of living costs, making homeownership a challenge for many. However, signs suggest the peak of inflation may have passed, creating cautious optimism.
3.80%
Current inflation rate, keeping households and prospective buyers under pressure.
50%
Proportion of renters citing saving for a deposit as their biggest barrier to buying a home.
£0
Many first-time buyers have seen their borrowing power effectively limited by high costs, despite potential opportunities.
1 Decision
The Bank of England’s upcoming base rate decision will be crucial in shaping the borrowing environment.
Opportunities Emerging for Buyers
High costs haven’t entirely closed doors for prospective buyers. Product innovation, greater borrowing power, and broker expertise are creating new pathways to homeownership sooner than many expected.
Expert Insights from Martyn Smith
Martyn Smith, CEO at Black & White Bridging, emphasizes the importance of supporting borrowers: “For prospective borrowers waiting in the wings for a better deal, this could be a game-changer. It’s now critical the Bank of England cuts the base rate again tomorrow to instil further confidence in these borrowers and help landlords and other businesses currently struggling under the weight of high interest rates. “We must increase opportunities for investment. We must boost borrowing. We must give borrowers a chance.”
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Looking Ahead
The next Bank of England decision will set the tone for borrowers and investors alike. While inflation holds for now, strategic borrowing and innovative mortgage products may open doors for households ready to take the next step.
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