This month, there is yet more uncertainty over when the base rate will start to fall. It may have come down in the Eurozone, but the latest predictions are that it will not now do the same in the UK until August at the very earliest.

That’s because the timing is not just affected by the headline inflation rate, which is coming down, it is also affected by core inflation, which remains stubbornly high at 3.9%, services inflation, which is as high as 5.9% and wage inflation at 6.0%. In Europe, core inflation is around 1% lower and services inflation is almost 2% lower. In addition, many believe the early election will further delay any reductions in the base rate. If the Bank of England makes any cuts before the election, they could be accused of favouring the Tories. However, inflationary pressure is expected to ease over the coming months, so, sooner or later, there will be a cut, it’s just difficult to say exactly when that might happen.

The current situation means mortgage costs are fairly static at the moment and are likely to stay that way until there is more certainty over the timings of a reduction in the base rate.

Below is a selection of this month’s best buys from Moneyfacts.co.uk:

Two-year fixed rates: 4.83% from first direct. Product fee £490. 60% LTV.
4.89% from Nationwide BS. Product fee £999. 60% LTV.

Three-year fixed rates: 4.73% from first direct. Product fee £490. 60% LTV.
4.79% from Nationwide BS. Product fee £999. 60% LTV.

Five-year fixed rates: 4.48% from First Direct. Product fee £490. 60% LTV
4.49% from Nationwide BS. Product fee £999. 60% LTV.

Discounted variable: 4.84% For 2 years. From Progressive BS. Product fee £0. 75% LTV.
4.99% For 3 years. From Newbury BS. Product fee £850. 75% LTV.

BUY-TO-LET (BTL)

Best two-year fixed rate: 3.79% from The Mortgage Works. Arrangement 3.00% Advance. 65% LTV.

Five-year fixed rate: 4.14% from The Mortgage Works. Arrangement 3.00% Advance. 65% LTV

Best Discounted variable: 5.00% For 2 years. From Monmouthshire BS. Arrangement 2.00% advance. 75% LTV.

The information we provide is our personal opinion and should not be relied upon for financial advice. Should you need financial advice or guidance please contact an appropriate professional.