17/09/2026
The Bank of England has just announced it is holding the base rate at 3.75% for the sixth time in a row — but there's more to today's decision than the headline suggests. 👇
Here's what you need to know:
📊 The vote was close — six members voted to hold, three voted to RAISE rates to 4% today. That's a growing minority pushing for increases, and it's a sign that the pressure isn't going away.
📈 Inflation rose to 3.1% in August — up from 2.9% in July — which is above the Bank's 2% target. This is one of the key reasons a rate rise remains firmly on the table at the next meeting on 5 November.
💰 A hold doesn't mean mortgage rates are falling. Fixed-rate deals are already averaging around 5.55%–5.64%, and with markets pricing in further rises over the next 12 months, lenders are unlikely to start cutting prices anytime soon.
⚠️ Still on your lender's SVR? The average SVR is currently 7.13% — potentially costing you hundreds of pounds more per month than a competitive fixed deal. Today's hold won't change that.
Whether you're an existing mortgage holder or thinking about buying, the next meeting on 5 November is the one to watch — and now is the time to get your position reviewed before then.
Get in touch to book a free consultation today. We're here to help.
☎️ 02921 682 867
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