It’s All About That Base
Bank of England Keeps Base Rate at 0.10%
After much speculation over an end-of-year rise, The Bank of England has maintained the bank rate at 0.10%.
A large majority vote of 7-2 within The Monetary Policy Committee (MPC), ensured the rate would remain at this record-low level, which dates to March 2020, when the rate was lowered from 0.25%.
Although the CPI are assuming an inflation rise in November of 4.5%, followed by a peak of 5% in April 2022, The MPC believes this inflation will dissipate over time, as supply disruption eases, global demand re-balances, and energy prices stop rising.
However, in an attempt to get inflation back to its 2% target within two years’ time, bank rates are likely to start increasing within the next six months.
If you’re looking to buy your first home, or if your current mortgage deal is coming to an end, now is the time to make the most of the current rates and future proof yourself against potential rises. Our in-house financial advisors could find you a great two or five year fixed rate deal, as they have access to whole of the market lenders, securing you affordable mortgage payments through, what may feel to be, uncertain times.
Our financial experts are here to help guide you through the entire mortgage process, helping you to make an informed decision when it comes to arranging one of the biggest financial commitments you are ever likely to make.
Our personal service will also help you to get to grips with understanding the finer details of arranging your mortgage, as well as helping you to manage your budget. We’ll also provide you with support with your application from start to finish.
To book your free, no-obligation mortgage appointment today, simply contact your local Arden Estates office.