UK base rate remains at 0.5%

10/05/2018 22:34:16

The Bank of England has today decided to keep the base rate at 0.5%.

The base rate is the Bank of England's official borrowing rate, which influences what borrowers pay and savers earn. The last increase was in November 2017, when rates rose from 0.25% to 0.5% - the first base rate rise in a decade.

The vote amongst the nine members was 7-2 - unchanged from the previous month. It said that the weak economic growth at the start of the year may have been influenced by the weather, but it wanted more substantial evidence of economic activity before any future increase.

With future rate rises likely now could be the time to look at your current mortgage. We work in partnership with fully authorised and regulated mortgage advisors who can arrange the mortgage finance and insurance products for the purchase or remortgage of your property.

To speak to an advisor get in touch with your local Scottish Property Centre branch today.


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