Interest Rate Rise
The Bank of England announced on 16.12.21 that the base rate will rise from 0.1% to 0.25%.
This has been done in a bid to stem the rising rate of inflation currently at 5.1% which is 3.1% above the government target of 2%.
We do not believe that such a small rate increase will have much effect so regrettably we are expecting more rate rises in 2022.
It might be a good idea to consider fixing your mortgage rate at current rates if you can.