What the Latest Budget Means for Your Mortgage

In collaboration with RM Financial

Yesterday’s Budget brought a wave of what many in the financial markets are calling “cautious relief”. While it wasn’t packed with surprises, it delivered enough clarity to steady nerves, and that sentiment is already being reflected in the mortgage market.

Insights from RM Financial: Lenders Begin to Cut Rates

RM Financial has been closely monitoring the immediate response from lenders, and the early signs are encouraging. Major providers including HSBC, Accord and Nationwide were among the first to announce rate drops following the Budget.

This kind of swift movement reflects renewed confidence in the economic outlook and suggests a more stable period ahead for buyers exploring their mortgage options.

Stamp Duty Rumours Settle, Encouraging Buyers to Re-Engage

In recent weeks, some prospective buyers told RM Financial they were holding off on making decisions due to speculation around possible stamp duty changes. As no changes were announced, that cloud of uncertainty has now lifted.

With clarity restored, RM Financial expects many of those paused buyers to feel more comfortable progressing with applications and securing rates while the trend is favourable.

Lower Rates Could Help Offset the Financial Pinch

It’s no secret that many households are still feeling a pinch in their pockets. However, RM Financial notes that if rate reductions continue, the easing cost of borrowing could help balance out some of that pressure.

A lower monthly repayment, even by a small margin,  can make a meaningful difference to affordability and long-term planning.

What This Means for Homebuyers in Northern Ireland

Overall, the Budget has helped steady the market, and early rate reductions are an encouraging sign for anyone considering a move in 2025. The combination of renewed stability, clarified tax policy, and improving mortgage conditions creates a more predictable environment for buyers.