‘A clearer direction of travel’ as rate hold begins to unlock borrower activity

“A few months ago it was ‘let’s wait and see’, now it’s more ‘let’s secure something and review if things improve,’” he said.

That improvement in sentiment is feeding through into pipeline activity, with greater confidence around planning and execution.

Kevin Gibson, of Ascot Bridging Finance, said the decision provides a level of certainty that is helping clients move forward.

“The Bank of England’s decision to hold interest rates comes as a welcome sign of stability for both our clients and the wider market,” he said. “For our clients, keeping the base rate unchanged means continued certainty when it comes to planning their next steps, whether they’re purchasing property, refinancing, or exploring bridging finance options.”

He added that the decision is already influencing behaviour.