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Mortgage and Property Investment Magazine - Experts comment as Bank of England hikes base rate to 4.5%

Mortgage and Property Investment Magazine - Experts comment as Bank of England hikes base rate to 4.5%

Today’s announcement from the Bank of England that UK base rates are to increase by 0.25% from the previous rate of 4.25% to a new rate of 4.5%, must hardly come as a surprise. Today’s move signals the twelfth consecutive time since December 2021 that the Bank’s Monetary Policy Committee (MPC) has hiked bank rate to the highest level since 2008. It focuses on the Bank’s aim of reducing inflation back towards it’s 2% target, however the impact on house owners and mortgages is set to add to the pain that the cost of living crisis is already delivering for millions of Brits.
Mortgage, property and other finance experts have been sharing their views on what the latest hike means for property markets and borrowers with IFA Magazine as follows:

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Link to Original Article: Mortgage and Property Investment Magazine - Experts comment as Bank of England hikes base rate to 4.5%