Bank of England Holds at 3.75% — What It Means for Buyers and Sellers in Lancashire

The Bank of England held the base rate at 3.75% in April 2026. After cutting rates four times last year (from 5.25% down to 3.75%), the Monetary Policy Committee has now paused to assess inflation, which ticked up to 3.4% in December.

So what does this actually mean if you're thinking of buying or selling?

Mortgage Rates Have Stabilised

The big picture is positive. Mortgage rates are significantly better than they were 18 months ago. Two-year fixed deals that were above 6% in 2024 are now sitting around 4.2%–4.8%. Five-year fixes are in a similar range.

The hold at 3.75% means rates are unlikely to jump back up. Lenders have already priced in where the base rate is going, and most economists expect one or two more cuts later in 2026 — likely in the autumn.

What This Means for Buyers

• Affordability is better — Monthly payments on a £200,000 mortgage are roughly £150–£200 less per month than they were in early 2024.
• Don't wait for 3% — Rates are unlikely to return to the ultra-low levels of 2021. If you can afford to buy now, waiting could mean paying more for the same property as prices continue to rise gently.
• Fixed is still sensible — With rates stable, fixing for 2 or 5 years gives you certainty without the fear of locking in at a peak.

What This Means for Sellers

Stable rates = confident buyers. When people know roughly what their mortgage will cost, they're more likely to commit. That's good news for sellers.

We're seeing healthy viewings levels across Chorley, Worsley, and Greater Manchester right now, with serious buyers ready to move. The days of "wait and see" are over for most people.

The Bottom Line

The rate hold isn't dramatic news. But it confirms that the market has settled into a new normal. Rates are manageable, prices are growing steadily, and both buyers and sellers in Chorley, Worsley, and the surrounding areas can plan with confidence.