{"id":7059805,"date":"2026-09-17T08:16:00","date_gmt":"2026-09-17T08:16:00","guid":{"rendered":"https:\/\/peraltafinancing.com\/uncategorized\/interest-rates-hold-expected-but-bank-of-england-facing-tough-choices\/"},"modified":"2026-09-17T08:16:00","modified_gmt":"2026-09-17T08:16:00","slug":"interest-rates-hold-expected-but-bank-of-england-facing-tough-choices","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=7059805","title":{"rendered":"Interest rates hold expected but Bank of England facing tough choices"},"content":{"rendered":"


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Households feel the impact of a rising Bank rate through higher borrowing costs, but can benefit from more generous savings rates.<\/p>\n

Given the global picture, and market expectations of a higher Bank rate, a host of major lenders have already increased the cost of new fixed-rate mortgages<\/a> in recent days.<\/p>\n

Andrew Montlake, chief executive of mortgage broker Coreco, said that the latest data showed that “the inflation dragon has not been fully slain”.<\/p>\n

“If inflation proves sticky, lenders’ funding costs stay under pressure, which makes cheaper mortgages harder to deliver,” he said.<\/p>\n

“We are already seeing lenders reprice upwards, so this will do little to calm things down. Borrowers should not panic, but anyone approaching the end of a fixed rate should start looking early, secure an option and keep reviewing it.”<\/p>\n

The average two-year fixed residential mortgage rate is at its highest since 11 May, at 5.77%, while the average five-year is at its highest since 8 November 2023, at 5.83%, according to financial information service Moneyfacts.<\/p>\n

Savers may be offered more generous returns, but the spending power of their savings could be eroded by the rising cost of living.<\/p>\n

“It’s almost impossible to time things just right, so I would urge households to focus on what’s best for them now, in the medium term and in the longer term,” said Harriet Guevara, chief savings officer at Nottingham Building Society.<\/p>\n

“For savers, regularly check that your savings are earning a competitive return and that you have the right balance between easy access and money you can afford to put away for longer.”<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

Households feel the impact of a rising Bank rate through higher borrowing costs, but can benefit from more generous savings rates. Given the global picture, and market expectations of a higher Bank rate, a host of major lenders have already increased the cost of new fixed-rate mortgages in recent days. Andrew Montlake, chief executive of […]<\/p>\n","protected":false},"author":1,"featured_media":7059806,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[2331,28942,4130,17276,17475,3094,11290,11291,2233],"dealstore":[],"offerexpiration":[],"class_list":["post-7059805","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-bank","tag-choices","tag-england","tag-expected","tag-facing","tag-hold","tag-interest","tag-rates","tag-tough"],"yoast_head":"\nInterest rates hold expected but Bank of England facing tough choices - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=7059805\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Interest rates hold expected but Bank of England facing tough choices - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Households feel the impact of a rising Bank rate through higher borrowing costs, but can benefit from more generous savings rates. 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