Bank of England increase the base rate

Today the Bank of England has raised the Base Rate to 0.75% which is only the second time they have increased the rate in a decade and is the highest it has been since March 2009.

It is estimated that 3.5million people have a variable or tracker mortgage rate which means that their repayments will increase next month following the rate rise with the Bank’s Governor, Mark Cairney, saying there will be further rises to come*

If you are on a variable rate or tracker rate and concerned about the impact of potential future interest rate rises then speak to one of your advisers today who can assess your details and recommend a suitable solution for you.

*Source: https://www.bbc.co.uk/news/business-45043776