Bank of England increases base rate to 1.75% – what the rise means for your mortgage and savings

The Bank of England has increased the base rate to 1.75% from 1.25% - the biggest single rise in 27 years. This rate is used by the central bank to charge other banks and lenders when they borrow money – and influences what borrowers pay and savers earn...

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Bank of England increases base rate to 1.75% – what the rise means for your mortgage and savings

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Comments

  • yessuz
    yessuz Posts: 259 Forumite
    Seventh Anniversary 100 Posts Name Dropper Combo Breaker
    happy days
    I own an EV. AMA
  • london21
    london21 Posts: 2,128 Forumite
    1,000 Posts Third Anniversary Name Dropper
    Not suprised with today's increase just did not think the rates will begin to rise in 2022.

    The inflation is now near 10%, looks like more increase to come.

    Mortgage repayments will be going up when it comes to next fix. 

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