The Bank's Monetary Policy Committee voted 7-2 to reduce Bank Rate.

A third of first-time buyers think now is a good time to buy a home.

"It's time to get interest rates back toward normal", Taylor says.

UK GDP has increased for the first time in three months.

The move was widely expected following this week's higher-than-expected wage growth data and inflation figures.

Inflation has increased for the second month in a row.

Headline inflation reaccelerated in October to the highest rate since April 2024. 

Monthly GDP fell by 0.1% in September, with quarterly growth slowing to 0.1%.

The lender has passed on the full Bank Base Rate reduction plus an additional 0.50% cut.

The swaps market has been rising since mid-September.