--- title: Mortgage Rate Held In November 2023 description: The Bank of England has maintained the Base Rate at 5.25% for the second consecutive time. Many industry experts speculate that we may have reached a peak. image: https://www.callunafinancial.co.uk/hubfs/blog/img__blog-increased-mortage-stability-nov.jpg --- [Skip to main content](https://www.callunafinancial.co.uk/blog/increased-stability-in-mortgage-market#main-content) [![Calluna Financial](https://www.callunafinancial.co.uk/hubfs/calluna-financial-logo-mono-white.svg)](https://www.callunafinancial.co.uk) - [Home](https://www.callunafinancial.co.uk) - [Show submenu for Mortgages Mortgages](https://www.callunafinancial.co.uk/mortgages) - [First Time Buyers](https://www.callunafinancial.co.uk/first-time-buyers) - [Remortgage](https://www.callunafinancial.co.uk/remortgage) - [Moving House](https://www.callunafinancial.co.uk/moving-house) - [Buy-To-Let](https://www.callunafinancial.co.uk/buy-to-let) - Show submenu for Our Advisers Our Advisers - [Aberdeenshire](https://www.callunafinancial.co.uk/aberdeenshire) - [Clacks, Stirling & Falkirk](https://www.callunafinancial.co.uk/stephanie-english) - [Edinburgh](https://www.callunafinancial.co.uk/edinburgh) - [Glasgow](https://www.callunafinancial.co.uk/allan-coll-glasgow) - [Inverness](https://www.callunafinancial.co.uk/inverness) - [Protection](https://www.callunafinancial.co.uk/protection) - [Show submenu for Mortgage Tools Mortgage Tools](https://www.callunafinancial.co.uk/mortgage-tools) - [Mortgage Calculator](https://www.callunafinancial.co.uk/mortgage-calculator) - [Repayment Calculator](https://www.callunafinancial.co.uk/calculator-repayments) - [LBTT Calculator](https://www.callunafinancial.co.uk/calculator-lbtt) - [Mortgage App](https://www.callunafinancial.co.uk/mortgage-app) - [Jargon Buster](https://www.callunafinancial.co.uk/jargon-buster) - [Mortgage FAQs](https://www.callunafinancial.co.uk/mortgage-faqs) - [Show submenu for About Us About Us](https://www.callunafinancial.co.uk/about-us) - [Self-Employed Agents](https://www.callunafinancial.co.uk/self-employed-agents) - [Refer A Friend](https://www.callunafinancial.co.uk/refer-a-friend) - [Blog](https://www.callunafinancial.co.uk/blog) - [Contact Us](https://www.callunafinancial.co.uk/contact-us) Open main navigation Close main navigation - [Home](https://www.callunafinancial.co.uk) - Show submenu for Mortgages Mortgages - Mortgages - [Mortgages](https://www.callunafinancial.co.uk/mortgages) - [First Time Buyers](https://www.callunafinancial.co.uk/first-time-buyers) - [Remortgage](https://www.callunafinancial.co.uk/remortgage) - [Moving House](https://www.callunafinancial.co.uk/moving-house) - [Buy-To-Let](https://www.callunafinancial.co.uk/buy-to-let) - Show submenu for Our Advisers Our Advisers - Our Advisers - [Aberdeenshire](https://www.callunafinancial.co.uk/aberdeenshire) - [Clacks, Stirling & Falkirk](https://www.callunafinancial.co.uk/stephanie-english) - [Edinburgh](https://www.callunafinancial.co.uk/edinburgh) - [Glasgow](https://www.callunafinancial.co.uk/allan-coll-glasgow) - [Inverness](https://www.callunafinancial.co.uk/inverness) - [Protection](https://www.callunafinancial.co.uk/protection) - Show submenu for Mortgage Tools Mortgage Tools - Mortgage Tools - [Mortgage Tools](https://www.callunafinancial.co.uk/mortgage-tools) - [Mortgage Calculator](https://www.callunafinancial.co.uk/mortgage-calculator) - [Repayment Calculator](https://www.callunafinancial.co.uk/calculator-repayments) - [LBTT Calculator](https://www.callunafinancial.co.uk/calculator-lbtt) - [Mortgage App](https://www.callunafinancial.co.uk/mortgage-app) - [Jargon Buster](https://www.callunafinancial.co.uk/jargon-buster) - [Mortgage FAQs](https://www.callunafinancial.co.uk/mortgage-faqs) - Show submenu for About Us About Us - About Us - [About Us](https://www.callunafinancial.co.uk/about-us) - [Self-Employed Agents](https://www.callunafinancial.co.uk/self-employed-agents) - [Refer A Friend](https://www.callunafinancial.co.uk/refer-a-friend) - [Blog](https://www.callunafinancial.co.uk/blog) - [Contact Us](https://www.callunafinancial.co.uk/contact-us) # Increased Stability In Mortgage Market ![John O'Malley](https://www.callunafinancial.co.uk/hs-fs/hubfs/staff/img__john-omalley.jpg?width=50&height=50&name=img__john-omalley.jpg) ![John O'Malley](https://www.callunafinancial.co.uk/hs-fs/hubfs/staff/img__john-omalley.jpg?width=50&height=50&name=img__john-omalley.jpg) Written by [John O'Malley](https://www.callunafinancial.co.uk/blog/author/john-omalley) 03 November 2023 The Bank of England made the decision yesterday to maintain the Base Rate at 5.25% for the second consecutive time. With this consecutive hold, many industry experts speculate that we may have reached a peak. The mortgage market is showing increased stability compared to the previous 12 months. Nevertheless, there will need to be further reductions in inflation before we start to see any cuts to the Base Rate. For individuals currently holding Tracker rate mortgages, there will be no changes to their rates or payments at present. Prospective homebuyers or those seeking to move home now have access to rates below 5% with a deposit of 15% or more, a trend we hope will continue in the present direction. However, recent UK finance data indicates an estimated 800,000 fixed rate mortgages were set to expire in the latter half of the year. These borrowers are likely to experience an increase from their initial rates. Defaults are on the rise, at the highest rate since 2009, outlining the importance of The Mortgage Charter. If you are encountering difficulties in meeting your payment obligations, it is advisable to promptly [engage a Broker](https://www.callunafinancial.co.uk/mortgages) or consult with your Lender for guidance. ![Risk & fee wording. Your home may be repossessed if you do not keep up repayments on your mortgage. There may be a fee for mortgage advice. The actual amount you pay will depend on your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.](https://www.callunafinancial.co.uk/hs-fs/hubfs/gray-1-col2.jpg?width=890&height=208&name=gray-1-col2.jpg)   ### **Proudly Accredited with Own New** Calluna Financial is now an approved broker for the Own New scheme, a powerful initiative designed to make buying a new build home more accessible through innovative shared equity solutions. This accreditation allows us to support housebuilders in accelerating sales and help buyers step into homeownership with reduced upfront costs and competitive mortgage rates. 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