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Tag: Mortgage Rates

  • Inflation Rises to 3.5%, Impacting Mortgage Rates

    Inflation Rises to 3.5%, Impacting Mortgage Rates

    Inflation in the UK has surged to 3.5% in September, significantly impacting expectations for a potential rise in the Bank of England’s base rate. This increase, up from 3.1% in August, is primarily driven by escalating fuel prices and adds further pressure on mortgage rates.

    TL;DR: Inflation has risen to 3.5%, raising concerns for borrowers as mortgage rates are expected to increase; this is driven by higher fuel costs and economic uncertainty.

    What Does the Inflation Increase Mean for Mortgage Rates?

    The rise in the Consumer Prices Index (CPI) to 3.5% indicates that inflation is moving further away from the Bank of England’s target of 2%. This trend is likely to result in an increase in the base rate, which would further increase mortgage rates. As lenders adjust their offerings in response to inflationary pressures, borrowers may find themselves facing higher costs for fixed-rate mortgages.

    How Are Borrowers Affected?

    For many mortgage borrowers, the current economic climate creates a preference for fixed-rate mortgages, which offer stability amidst uncertainty. As fixed rates surge, borrowers are encouraged to secure their rates sooner rather than later to avoid potential increases. The pressure on disposable income due to rising prices may also affect borrowers’ ability to meet mortgage repayments, making it important for them to assess their financial situations.

    What Should Investors and Landlords Watch For?

    Investors and landlords should closely monitor the upcoming Budget announcement, as it may provide insights into government strategies to combat inflation and its effects on the housing market. With rising inflation and potential interest rate hikes, the property market could experience shifts in demand and pricing. Investors should consider these factors when evaluating property purchases or refinancing options.

    What This Means for Mortgage Brokers

    Mortgage brokers will need to navigate a more complex market as inflation impacts borrowing costs. With the likelihood of a base rate rise, brokers should prepare to advise clients on the best mortgage products available, especially fixed-rate options. Staying informed about market trends and lender responses will be essential for brokers to effectively guide their clients through these changes.

    Frequently Asked Questions

    How does rising inflation affect my mortgage repayments?

    Rising inflation can lead to increased mortgage rates, which may result in higher monthly repayments for borrowers, particularly for those on variable-rate mortgages.

    Should I consider a fixed-rate mortgage now?

    Given the current inflation trends and the potential for rising base rates, securing a fixed-rate mortgage now may provide stability and protect against future rate increases.

  • Remortgage Surge: 75% of BTL Loans Completed in Q2 2026

    Remortgage Surge: 75% of BTL Loans Completed in Q2 2026

    The buy-to-let (BTL) market has seen a significant shift, with remortgages now making up 75% of completed loans in Q2 2026. This trend highlights the ongoing importance of remortgaging for landlords as they navigate a changing financial market, especially in light of rising interest rates and economic uncertainties.

    TL;DR: Remortgages accounted for 75% of completed BTL loans in Q2 2026, affecting landlords seeking to refinance; new BTL loans increased significantly year-on-year.

    What are the latest trends in BTL remortgages?

    According to recent data, the total number of new BTL loans for remortgaging reached a substantial figure out of the overall completed loans in Q2 2026. This marks a significant increase in the number of loans and a notable rise in value compared to the same quarter in the previous year. The average interest rate on new BTL loans has risen, reflecting changes in the market, although it remains lower than the previous year.

    How does the rental yield impact landlords?

    The average gross rental yield for BTL properties in the UK remained stable in Q2 2026, showing little change from the previous year. This stability in rental yield is important for landlords, as it indicates that while costs may be rising, rental income remains relatively consistent. The interest cover ratio (ICR) also improved, suggesting that landlords are better positioned to cover their mortgage payments with rental income.

    What does this mean for landlords and investors?

    The current trend towards remortgaging is particularly relevant for landlords whose fixed-rate mortgages from the market boom are now maturing. With ongoing geopolitical tensions affecting mortgage pricing, landlords need to be proactive in exploring remortgage options to secure more favourable rates. The decline in the number of BTL fixed-rate mortgages outstanding, alongside a drop in variable rate loans, suggests that many landlords are opting for stability through fixed-rate remortgages.

    Frequently asked questions

    What should landlords consider when remortgaging?

    Landlords should assess their current mortgage terms, compare rates from various lenders, and consider the implications of rising interest rates on their cash flow before making a decision.

    How can landlords benefit from the current market conditions?

    By remortgaging now, landlords can potentially lock in lower rates before further increases occur, thus improving their overall profitability and cash flow management.

  • Mortgage Rates Rise, Impacting UK Housing Markets

    Mortgage Rates Rise, Impacting UK Housing Markets

    Mortgage rates are climbing, leading to significant shifts in the UK housing market, particularly in regions that had previously shown resilience. As the average two-year fixed mortgage rate reaches 5.55%, up from 5.29% in the previous month, the financial pressure on buyers is becoming increasingly evident, especially in some of Britain’s more affordable areas.

    TL;DR: The average two-year fixed mortgage rate has surged to 5.55%, adding approximately £250 monthly to typical mortgage costs; this is beginning to affect house prices in previously stable regions.

    How Are Rising Mortgage Rates Affecting House Prices?

    According to Rightmove’s latest House Price Index, average asking prices in the UK have increased by 1% (£3,575) this month, bringing the average to £371,015. However, this figure remains 0.1% lower than a year ago. The North East has experienced the most significant decline, with prices dropping by 2%, followed closely by Scotland at 1.9%. Other regions, including the North West and Wales, have also seen slight decreases in asking prices, while Yorkshire and the Humber recorded a modest increase of 0.3%.

    What Is the Current Situation in London?

    London has reported the largest monthly increase in asking prices, rising by 2.5% in October. This rebound follows a challenging summer, where prices fell by 6% during July and August. Despite this recent uptick, prices in the capital are still down 1.7% compared to October 2025. Notably, 38% of London properties have had their asking prices reduced, and homes are taking an average of 78 days to secure a buyer, with only 42% of listed properties finding a buyer. This suggests that the price increase may reflect heightened seller expectations rather than a genuine recovery in the market.

    Why Are Sales Declining?

    Across the UK, the number of sales agreed is 8% lower than during the same period last year, with buyer inquiries down by 9%. Interestingly, new listings have increased by 3%, leading to the highest number of homes for sale at this time of year since 2014. This oversupply, combined with rising mortgage rates, is likely contributing to the decline in sales. Additionally, potential first-time buyers may be postponing their decisions as they await further details on the government’s proposed Your First Home scheme.

    What This Means for Buyers and Sellers

    The increase in mortgage rates is putting considerable pressure on affordability for buyers across Great Britain. As mortgage costs rise, sellers in previously resilient markets are beginning to adjust their pricing strategies. This shift means that buyers may find more opportunities for negotiation, particularly in regions where prices have started to decline. However, the uncertainty surrounding the upcoming Budget may further influence buyer sentiment and market dynamics.

    Frequently Asked Questions

    What should buyers consider in the current mortgage environment?

    Buyers should evaluate their budget carefully, considering the impact of rising mortgage rates on their monthly payments. It’s advisable to consult with mortgage brokers to explore available options and potentially secure more favorable terms.

    How can sellers respond to changing market conditions?

    Sellers may need to reassess their pricing strategies in light of declining buyer interest and increasing competition. Adjusting expectations and being open to negotiations could help facilitate sales in a challenging market.

  • High Mortgage Rates Impacting UK Rental Market Dynamics

    High Mortgage Rates Impacting UK Rental Market Dynamics

    The UK rental market is facing significant shifts as steep mortgage rates make property investment less appealing, despite record-high rents. With average rents outside London surpassing £1,400 per month for the first time, landlords and potential investors must navigate a challenging market shaped by rising costs and changing demand.

    TL;DR: Average rents outside London have reached £1,418 per month, but high mortgage rates, now averaging 5.34% for two-year fixed buy-to-let mortgages, are discouraging investment; landlords and investors face a tough market.

    What Are the Current Rental Trends?

    Rightmove reports that the average advertised rent for homes outside London has hit a record £1,418 per calendar month, reflecting a significant increase in rental prices. Between 2021 and 2023, annual rental growth consistently hovered around +10%, indicating strong demand for rental properties. However, the availability of rental homes has decreased by 2% compared to last year, suggesting a tightening supply amidst shifting demand.

    How Are London Rents Performing?

    In London, the average advertised rent has reached a staggering £2,825 per month, with annual growth accelerating to 3.2%. This growth rate is notably higher than the 2.4% seen outside the capital. The rental market in London is experiencing a 9% decline in available rental homes compared to a year ago, while new listings have fallen by 7%. Despite this, renter demand in London has increased by 6% annually, highlighting a growing imbalance in the market.

    What Are the Implications of Rising Mortgage Rates?

    The current average two-year fixed buy-to-let mortgage rate stands at approximately 5.34%, a significant rise from the 4.16% rate prior to the onset of the war in Iran. These increased borrowing costs are making it less attractive for landlords to invest in new properties, particularly as rental growth does not necessarily offset the higher mortgage expenses. The stability of the proportion of homes for sale that were previously available to rent (around 13%) indicates that landlords are not rushing to sell, but the decrease in homes to rent that were previously for sale (from 17% to 15%) suggests a cautious approach to the market.

    What This Means for Landlords and Investors

    Landlords and property investors are currently facing a complex situation. While rental prices are rising, the steep mortgage rates are limiting the profitability of new investments. For those considering entering the buy-to-let market, the current conditions may necessitate a careful assessment of financial viability. Investors should remain vigilant about market trends and consider leveraging tools such as a buy-to-let calculator to evaluate potential returns against rising costs.

    Frequently Asked Questions

    What should landlords consider in the current market?

    Landlords should evaluate their investment strategies carefully, considering the impact of rising mortgage rates on profitability. It’s essential to assess rental yields and market demand before making new purchases.

    How can I navigate high mortgage rates as an investor?

    Investors can explore various mortgage options and consult with brokers to find competitive rates. Staying informed about market trends and potential rental growth will also aid in making informed decisions.

  • Commercial Mortgage Advances Rise by 3% in Q3 2026

    Commercial Mortgage Advances Rise by 3% in Q3 2026

    Commercial mortgage advances have seen a notable increase in the third quarter of 2026, marking a 3% rise from the previous quarter. This growth indicates a strengthening market for semi-commercial mortgages, which is significant for landlords and investors looking to finance mixed-use properties.

    TL;DR: Semi-commercial mortgage advances rose by 3% in Q3 2026, reflecting a growing market with an annual lending rate of £1bn; landlords and investors should monitor lender activity and pricing trends.

    What is Driving the Increase in Commercial Mortgage Advances?

    According to Tab’s Mixed-Use Mortgage Monitor, the semi-commercial mortgage sector has experienced substantial growth, with lending values increasing by 36% since the first quarter of 2025. The market is now lending at an annualised rate of £1 billion. The increase in Q3 was attributed to a surge in lender activity during the spring months, with the number of active semi-commercial term lenders rising from 25 to 30. This influx included two new lenders entering the market, which has positively impacted competition and options for borrowers.

    How Have Lending Trends Changed?

    Despite the overall increase in advances, the pace of growth has slightly slowed, with year-on-year lending growth dropping from 20% in Q2 to 14% in Q3. Average loan sizes have also decreased by 1%, now standing at £510,000. However, this decline is somewhat offset by an increased appetite for larger loans in other areas of the market. The average semi-commercial mortgage rate has risen by 10 basis points, highlighting a divergence from the Bank of England’s base rate, which has remained stable at 3.75% throughout Q3.

    What This Means for Landlords and Investors

    The increased availability of semi-commercial mortgages is beneficial for landlords and investors, particularly those looking to finance mixed-use properties. The entry of new lenders, especially those transitioning from bridging finance to longer-term semi-commercial lending, suggests a more competitive environment. This could lead to better rates and terms for borrowers. However, the upward repricing of specialist lenders in response to rising swap rates may affect future borrowing costs, making it essential for landlords to stay informed about market trends and lender offerings.

    What Should Borrowers Watch Next?

    Looking ahead, borrowers should monitor the potential for further lender entries into the market, which could enhance competition and lead to more favourable lending conditions. Additionally, as specialist lenders may adjust their pricing in light of recent swap rate increases, it is advisable for borrowers to be proactive in seeking the best mortgage terms. Understanding the timing of product uptake—typically taking 8-12 weeks from application to completion—will also be important for those looking to secure financing in the coming months.

    Frequently Asked Questions

    What are semi-commercial mortgages?

    Semi-commercial mortgages are loans that finance properties with both residential and commercial elements, such as a shop with flats above. They cater to landlords and investors looking to diversify their portfolios.

    How can I find the best commercial mortgage rates?

    To find the best commercial mortgage rates, compare offers from various lenders, consider working with a mortgage broker, and stay updated on market trends and lender activity.

  • Mortgage Rates Reach Three-Year High, Impacting Buyers

    Mortgage Rates Reach Three-Year High, Impacting Buyers

    The UK housing market is facing renewed pressures as mortgage rates have surged to their highest level in three years, significantly impacting buyer confidence and property values. With the average five-year fixed mortgage rate now at 6%, the market is feeling the effects of rising rates and ongoing political uncertainty.

    TL;DR: The average five-year fixed mortgage rate has reached 6%, the highest since September 2023; this increase is dampening buyer confidence and leading to a decline in property prices.

    How Are Rising Mortgage Rates Affecting the Housing Market?

    As mortgage rates climb, potential homebuyers are becoming increasingly cautious. The latest data from Knight Frank reveals that country house prices have dropped by 4.2% over the past year, reflecting the hesitance among buyers. This trend is compounded by a 14% decline in mortgage approvals compared to the five-year average, as reported by the Bank of England.

    The increase in mortgage rates began in February 2026, coinciding with geopolitical tensions in the Middle East, which have heightened inflation expectations. Bill Brown, an analyst, noted that the gradual impact of these higher rates is evident, as mortgage offers typically last for up to six months. This means that the full effects of current rates will take time to materialize in the market.

    What Does This Mean for Buyers and Sellers?

    For buyers, the current mortgage market poses significant challenges. Higher borrowing costs can limit purchasing power, making it more difficult to secure desirable properties. Additionally, the lack of annual house price growth reported by Lloyds in September indicates a stagnation in the market, further complicating the decision-making process for potential buyers.

    Sellers are also feeling the pinch, as the number of property exchanges fell by 2% in the third quarter compared to the previous year, and offers made decreased by 10%. James Cleland, head of Country sales at Knight Frank, emphasized that while well-priced properties still attract interest, the overall market sentiment is fragile due to uncertainties surrounding upcoming government budgets and tax policies.

    What Should Investors Keep an Eye On?

    Investors in the property market should closely monitor the evolving situation regarding mortgage rates and government fiscal policies. The Conservatives’ recent pledge to eliminate the proposed council tax surcharge on homes valued at £2 million or more may influence market dynamics, particularly in the higher-end segment.

    Moreover, the market is speculating on potential interest rate increases by the Bank of England, with expectations of a quarter-point rise to 4% in November. Investors should be prepared for a potentially volatile market as these changes unfold and assess how they may impact property values and rental yields.

    Frequently Asked Questions

    How can I prepare for higher mortgage rates?

    To prepare for higher mortgage rates, consider locking in a fixed-rate mortgage if you are planning to buy a home. Additionally, assess your budget to ensure you can accommodate potential increases in monthly payments.

    What are the implications of falling house prices?

    Falling house prices can lead to negative equity for existing homeowners and may deter new buyers from entering the market. This could result in a slowdown in property transactions and affect overall market stability.

  • Conveyancing Delays Impacting UK Mortgage Transactions

    Conveyancing Delays Impacting UK Mortgage Transactions

    Recent analysis reveals that conveyancing delays are significantly hindering homebuying transactions in the UK, with 42% of recent homebuyers citing it as the primary obstacle. As the completion timeline stretches, borrowers face potential financial repercussions, particularly with rising mortgage rates.

    TL;DR: 42% of homebuyers report conveyancing delays as a major issue; this impacts transaction timelines and could lead to increased costs for borrowers as mortgage rates rise.

    What Are the Current Trends in Conveyancing Delays?

    In September, a survey conducted by Lyons Bowe Solicitors highlighted that 42% of recent homebuyers identified conveyancing as the most significant factor slowing their transactions. This delay is compounded by slow communication between the buyer’s and seller’s conveyancers, which was cited by 23% of respondents as the leading cause of their frustrations.

    Additionally, Propertymark’s Housing Insight Report indicated that the average time taken to complete transactions has increased, with over half (51.2%) of transactions now taking more than 17 weeks to exchange. This is a stark contrast to previous years, reflecting a growing backlog within the conveyancing process.

    How Do Rising Mortgage Rates Affect Homebuyers?

    As mortgage rates continue to fluctuate, the implications for homebuyers are significant. For instance, a buyer with a £2 million residential mortgage facing a rate increase from 4.39% to approximately 5% could see thousands of pounds added to their overall costs if the transaction does not complete in time. The urgency to finalise transactions has never been more pronounced, especially as the government’s 2026 homebuying reform roadmap suggests an average completion time of around 120 days—60% longer than in 2007.

    Moreover, the Legal Ombudsman reported a 41% year-on-year increase in residential conveyancing complaints, with 3,039 complaints accepted in the 2025/26 period. This indicates a growing dissatisfaction with the conveyancing process, which could further deter potential buyers.

    What Are the Main Causes of Conveyancing Delays?

    Several factors contribute to the ongoing delays in the conveyancing process. One significant issue is the additional Anti-Money Laundering (AML) requirements that have increased the workload for conveyancers. Furthermore, the presence of inexperienced trainees in the field has led to inefficiencies in handling transactions.

    Another critical factor is the Building Safety Act, which came into effect in June 2022. This legislation has introduced new compliance requirements that can prolong the conveyancing process, adding to the frustrations of buyers and sellers alike.

    What This Means for Homebuyers and Investors

    For homebuyers, the current state of conveyancing means that planning and timing are essential. Those looking to secure a mortgage should be aware of the potential for delays and the financial implications of rising interest rates. It’s important for buyers to maintain open lines of communication with their conveyancers to expedite the process where possible.

    Investors should also take note of these trends, as prolonged transaction times can affect investment strategies and cash flow. The increasing complexity of the conveyancing process may also necessitate a more robust approach to due diligence and financial planning.

    Frequently Asked Questions

    What should I do if my conveyancing is delayed?

    If you experience delays in your conveyancing process, it is advisable to communicate directly with your conveyancer to understand the reasons for the hold-up and explore options to expedite the process.

    How can rising mortgage rates impact my home purchase?

    Rising mortgage rates can significantly increase your borrowing costs. If your transaction is delayed, you may miss out on lower rates and face higher payments, impacting your overall financial situation.

  • Remortgage Activity Sees Significant Surge in Q3 2026

    Remortgage Activity Sees Significant Surge in Q3 2026

    Remortgaging has seen a substantial uptick in activity during the third quarter of 2026, with more than 1.9 million mortgage searches recorded in September alone. This surge is largely attributed to borrowers responding to fluctuating mortgage pricing and market uncertainties.

    TL;DR: Remortgage searches soared by 40% in September, indicating heightened adviser activity; borrowers are reacting to rising mortgage rates and product withdrawals.

    What Are the Key Figures Behind the Surge?

    According to data from Twenty7tec, September recorded a total of 1,912,458 mortgage searches, marking a 23% increase from August and a 15% rise compared to the same month last year. Residential remortgage searches specifically jumped by 40% month-on-month and 44% year-on-year, with 860,951 searches logged. This trend indicates that many borrowers are actively seeking to remortgage, likely due to concerns over future mortgage pricing.

    Why Is Remortgaging on the Rise?

    The increase in remortgaging activity can be linked to several factors. The Bank of England maintained the Bank Rate at 3.75% in September, but three members of the Monetary Policy Committee advocated for a rate hike, signalling potential future increases. Additionally, the bank reported that two-year fixed mortgage rates have risen by approximately 95 basis points since the recent energy price shocks, prompting borrowers to reassess their mortgage options. Major lenders have responded by increasing fixed mortgage pricing, with some rates climbing by as much as 0.3 percentage points during September.

    What This Means for Borrowers and Investors

    This surge in remortgaging activity is significant for borrowers and investors alike. For homeowners looking to remortgage, this could present an opportunity to lock in rates before they potentially rise further. However, first-time buyer searches have only increased by 3% month-on-month, remaining 4% lower than September last year, indicating that new entrants to the market may still face challenges. Investors in buy-to-let properties also saw a notable increase in remortgage searches, with a 34% rise in BTL remortgage searches compared to the previous month, although overall BTL activity remains 4% lower than a year ago.

    How Are Other Mortgage Activities Performing?

    Other mortgage activities have also shown varied trends. Residential purchase searches reached 617,709 in September, reflecting an 8% increase from August but only a 1% rise year-on-year. Meanwhile, BTL purchase searches continue to lag behind, down 21% compared to the previous year. Conveybuddy reported a 19% increase in remortgage instructions during Q3 compared to Q2, with overall instructions for sale and purchase also rising by 8% in the same period. This suggests a broader recovery in the mortgage market, albeit with specific segments experiencing differing levels of activity.

    Frequently Asked Questions

    What should borrowers consider when remortgaging?

    Borrowers should assess their current mortgage terms, compare new rates, and consider the potential for future rate increases. Consulting a mortgage adviser can help navigate these decisions effectively.

    How can investors benefit from the current remortgaging trend?

    Investors can take advantage of the increased remortgaging activity to refinance existing properties at potentially lower rates, thus improving cash flow and investment returns.

  • Remortgage Activity Surges Amid Rising Mortgage Rates

    Remortgage Activity Surges Amid Rising Mortgage Rates

    Remortgage activity has seen a significant uptick in the third quarter of 2026, coinciding with climbing mortgage rates. In September alone, intermediaries conducted over 1.9 million mortgage searches, marking a 23% increase from August and a 15% rise year-on-year. This surge indicates a growing urgency among borrowers to secure better terms before rates escalate further.

    TL;DR: In September, remortgage searches surged by 40% month-on-month, reflecting borrowers’ urgency as mortgage rates rise; this trend is critical for homeowners and brokers alike.

    Why Are Remortgage Searches Increasing?

    Data from Twenty7tec reveals that 861,000 searches in September were specifically for residential remortgage products, a 40% increase from August and a 44% rise compared to the same month last year. This trend suggests that many homeowners are looking to refinance their existing mortgages in response to rising rates. Meanwhile, residential purchase searches grew by only 8% month-on-month, indicating that potential buyers may be more cautious amid the current rate environment.

    What Do Rising Mortgage Rates Mean for Borrowers?

    The average two-year fixed mortgage rate has climbed to 5.98%, the highest since mid-December 2023, while five-year fixed rates have reached 6%. This increase has led to a dramatic reduction in the availability of sub-5% fixed mortgage deals, which fell from 1,494 to just nine by early October. For borrowers, this means that locking in a remortgage now could be a strategic move to avoid even higher costs later.

    What This Means for Brokers and Landlords

    With remortgage instructions rising by 19% in Q3 compared to Q2, brokers should prepare for increased demand from clients looking to refinance. Landlords should also consider their options, as rising rates may impact their financing strategies. The market is shifting, and staying informed is important for navigating these changes effectively.

    Frequently asked questions

    How can I benefit from remortgaging now?

    Remortgaging now can help you secure a lower rate before further increases, potentially saving you money on monthly payments.

    What should I watch for in the mortgage market?

    Keep an eye on the Bank of England base rate and lender offerings, as these will significantly influence mortgage rates and availability.

  • Barclays Extends Lower Rate Window for Mortgages

    Barclays Extends Lower Rate Window for Mortgages

    Barclays has announced an extension of its lower mortgage rate window following a recent technical outage that affected pricing updates. This development is significant for borrowers and brokers who may have missed out on securing competitive rates due to the system issues.

    TL;DR: Barclays has extended the availability of lower mortgage rates; brokers and clients can use code BPER110 to secure these rates despite recent price hikes.

    What Changes Were Made to Barclays’ Mortgage Rates?

    This week, Barclays raised prices on a number of mortgage deals and subsequently increased rates on additional products. These changes were implemented to align with market conditions, but the technical outage may have hindered some brokers and clients from locking in earlier, more favourable rates.

    Who Is Affected by These Changes?

    The recent adjustments primarily impact mortgage brokers and their clients. Those who were unable to secure lower rates before the price hikes can still take advantage of the extended window. By using the code BPER110, they can access these rates until the end of the day.

    What This Means for Borrowers and Brokers

    For borrowers, this extension provides a vital opportunity to secure lower mortgage rates despite the recent increases. Brokers should inform their clients about the code BPER110 to ensure they can benefit from this temporary reprieve. This situation highlights the importance of staying updated on lender communications, especially during periods of technical issues.

    Frequently asked questions

    How long will the lower rates be available?

    The lower rates will be available until the end of the day using the code BPER110.

    What should brokers do to help their clients?

    Brokers should communicate the availability of the code BPER110 to their clients to help them secure the lower rates before the deadline.