Seventy-one per cent of specialist buy-to-let (BTL) brokers expect the Bank of England (BoE) to cut the base rate tomorrow, Landbay has revealed.
The BTL lender’s latest research found that 61% expect a rate reduction of 0.25%, while 11% anticipate a cut of 0.5%.
Over a quarter (27%) expect there to be no change to the BoE’s base rate and 2% believe that the base rate will be increased in May.
The research follows Landbay’s previous poll where 54% of brokers had told the lender they expect only two more interest cuts this year, while 14% have forecast three cuts to the base rate by the end of 2025.
A further 2% believe that the base rate will drop by 3.5% this year.
Sales and distribution director at Landbay, Rob Stanton, said: "Our findings reflect a cautious optimism among brokers and an expectation of a gradual easing of monetary policy – with a large majority anticipating a rate cut.
"While 61% think we’ll see rates fall 0.25%, a bullish 11% think we’ll see a 0.5% cut. That aligns with market expectations. A significant number of brokers expect no change, or even a rise, which highlights some ongoing uncertainty in the market, driven, most probably, by persistent concerns over inflation.
"While brokers are clearly trying to navigate a complex economic landscape, expectations of a potential base rate cut in May present opportunities for landlords and property investors keen to expand their portfolio."
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