UK mortgage holders urged to lock in low rates amid Bank of England's 5% interest rate and anticipated cuts.
Martin Lewis' Money Saving Expert (MSE) has urged UK mortgage holders to secure low rates now, as the Bank of England's interest rate remains at 5% and potential cuts are anticipated later this year. With a revised inflation forecast predicting a rise to 2.5% by the end of 2024, MSE recommends fixed rates, currently cheapest for five years. The next Monetary Policy Committee meeting is on November 7, 2023, which may influence future rates.
September 22, 2024
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