ESTATE agency Allen & Harris in Swindon says the latest interest rate cut means people wanting to renew mortgages should act now.

The firm issued its advice following the announcement by the Bank of England that its base rate was to be reduced to 0.25 percent – a record low.

Allen & Harris mortgage partner Jamie Smith said: “Homebuyers and remortgagers would do well to review their current mortgage situation following the interest rate cut from the Bank of England.

“Now could be a good time to secure a very attractive rate on a mortgage, potentially saving money on monthly repayments.

“This could make getting on to, or moving up, the property ladder within easier reach.

“Competition between lenders continues, and there are some great mortgage products available.

“We want to help buyers and those hoping to improve their current mortgage arrangements to take advantage of the lower interest rate and invite customers to come in and discuss their options and see if there are more cost effective products out there for them.”

Allen & Harris offers mortgage and remortgage advice from a network of branches, and promises it has access to many highly competitive and exclusive mortgage products.

Call the Swindon team on 01793 615105 or email: