30/04/2026
The Bank of England Base Rate: What does it mean for YOUR wallet? 📈
Today, Bank of England Base rate has been held at 3.75%. Let us explain a little bit more about it.
The Base Rate is essentially the "cost of borrowing" in the UK. Here’s exactly how it may impact your finances:
🏠 Mortgages:
Tracker/Variable: Your payments can move up or down with the rate.
Fixed Rate: You’re safe! Your payments won't change until your current deal ends.
💰 Savings:
A higher base rate is good news! You should earn more interest on your cash, but you may need to shop around to find the best deal.
💳 Personal Debt:
Loans: Usually fixed, so no change.
Credit Cards/Overdrafts: These often get more expensive when the rate rises.
❌ What it DOESN'T change?:
It doesn’t lower supermarket prices instantly, and it doesn’t directly dictate your home's value.
🧐Remember: With the market being so unstable, if your fixed deal is ending within the next 6 months, it's probably a good idea to discuss your remortgage needs with an expert.
Let’s chat! Message us for a mortgage health check. ☕🏡
GRN Financial Services Limited is an Appointed Representative of PRIMIS Mortgage Network, a trading name of Personal Touch Financial Services Ltd. Personal Touch Financial Services Ltd is authorised and regulated by the Financial Conduct Authority.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE