The new May 2025 interest rate is good news. Here's why.

Let’s be honest, if you’ve been thinking about buying a home, the past few years haven’t been easy. From rising rents to economic uncertainty, it’s been a tricky time to make big decisions. But this week brought some much-needed good news and at Vivly Living, we’re feeling cautiously hopeful about what’s next.

A step in the right direction

The Bank of England has just announced a cut in interest rates, from 4.5% down to 4.25%. It might not sound huge, but for many people, it could make a real difference. Mortgage deals are already starting to look a little more affordable, and after another small cut earlier in the year, it’s a sign that things may be gently shifting in favour of homebuyers.

“Today’s base rate cut is welcome news and I am cautiously optimistic about the future of the housing sector in Yorkshire and beyond. For homeowners and those who’ve been looking to get on the property ladder, the past few years have been tough, but there are signs of it changing. Rates on mortgage deals have been falling, and it’s hopefully going to become easier to get a mortgage”

– Paul Brown, Managing Director

A boost of confidence for buyers

At Vivly, we’re already noticing an increase in demand across our developments in Skelmanthorpe and Denby Dale over the past month. More people are asking about our homes, and our first-time buyer options are proving especially popular.

We get a sense buyers are feeling more confident in the market. And that's good for everyone. When you combine this with a government committed to building new homes, and rules being eased for mortgages, it feels like this could be a genuine turning point.

Homes that feel like home

Of course, interest rates are just part of the story. We know that choosing the right home is more than just finding the right price at the right time.

We believe our homes aren't just priced fairly, they're designed considerately and built well. Buying a new home should be a joy, so hopefully interest rate changes like these and homes like ours take (some) of the stress out of finding a house that's right for you

If you’ve been thinking about buying, whether it’s your first step or a fresh start, now could be a great time to explore your options. Contact our friendly Customer Experience Team on 01484 599454 or hello@vivlyliving.com today to arrange a viewing. We’d love to show you what Vivly Living has to offer.