21/03/2024
As many speculated, the Bank of England has held interest rates for the fifth time in a row, remaining at 5.25%, despite the fall in inflation reported yesterday.
This means that borrowing has remained at its highest for 16 years, as the Bank of England persists in keeping interest rates high to try and slow sharply rising prices.
However, as Bank of England Governor, Andrew Bailey states, "things are moving in the right direction". - https://www.bbc.co.uk/news/business-68618436.
With tighter lending conditions, those entering the property market may feel priced out. That includes those currently with a variable or tracker mortgage feeling the pinch of these high interest rates.
The Carbon team are always here to help you with your mortgage related concerns and queries.
Give us a call at 01932 505 340 or email us at [email protected].