Bank of England votes 6-3 to hold base rate at 0.5% | Mortgage Introducer

The Bank of England has voted to hold the base rate at 0.5% with a 6-3 MPC split, indicating that the rate could rise in August. Three Monetary Policy Committee members, including the Bank’s chief economist, Andrew Haldane, voted to raise rates to 0.75%. Governor of the Bank of England Mark Carney voted to hold rates at 0.5%. Source: Bank of England votes 6-3 to hold base rate at 0.5% | Mortgage Introducer

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Britons unprepared for a potential hike in interest rates | Mortgage Introducer

With today marking one month until the Bank of England (BoE) will announce if there is to be an increase in interest rates, almost half (47%) of Britons are unaware of a possible increase. CYBG’s digital banking service B also found over half (57%) admitted to not fully understanding how a rise in interest rates will impact their financial situation. Source: Britons unprepared for a potential hike in interest rates | Mortgage Introducer

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First-time sellers see interest rate rises as biggest challenge | Mortgage Introducer

First-time sellers see interest rate rises as biggest challenge to moving up the property ladder, Lloyds Bank found. Lloyds Bank’s annual Second Stepper report found one in three (35%) of these households believe it will be more difficult to sell their home this year. This is with worries over the economy, the size Source: First-time sellers see interest rate rises as biggest challenge | Mortgage Introducer

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