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The head of the UK’s largest home loan company, Lloyds Banking Group has been discussing the future of the mortgage market in the UK. The banking group who own a number of giants in the mortgage lending field such as Halifax and Birmingham Midshires has stated that rates of 3.5% and 4.5% will become the new normal for customers after a decade of rates at 1.5 to 2.5%.

They predicted that the rates will fall from the current 16 year high of 5.25% but not until the Bank of England begin a series of base rate cuts, which will likely happen after the general election.

For the general home owner this news brings longer term stability than we have seen in the past few years but at a higher price than the average over the past decade.

If you’d like to discuss how this affects you or could help you in detail get in touch with The Mortgage Desk today at or 0800 975 0222