20/10/2021
Speculation is growing about the prospect of a rise in interest rates in the UK. With inflation currently sitting at around 3.2%, and the Bank of England forecasting that it could get as high as 4% before the year ends, it is looking increasingly likely the Bank of England will raise interest rates in order to curb the rise in inflation.
But what will this mean for your mortgage? Forbes have looked at some of the most common questions around interest rate rises.
The prospect of a rise in interest rates, perhaps by the end of this year, is looming large. But what it's all about, and how could it affect you? Find simple answers to the most common questions below. What are interest rates now? The Bank of England base rate is currently pegged at 0.1%. It