News & insights - Interest rates

Inflation held steady at 3% in the 12 months to February, providing a brief sense of stability in an otherwise volatile economic environment.

The Bank of England’s Monetary Policy Committee voted unanimously to leave the base rate unchanged at 3.75% in March, due to ongoing economic uncertainty caused by conflict in the Middle East.

Conflict in the Middle East and the resulting prospect of rising inflation has prompted a growing number of lenders to increase their mortgage rates.

Inflation fell to its lowest level in nearly a year in January according to the Office for National Statistics, boosting hopes that we could see a base rate cut as soon as March.

The Bank of England’s Monetary Policy Committee (MPC) voted by a majority of 5-4 to leave the base interest rate unchanged at 3.75% in February, following higher-than-expected inflation figures released last month.

Inflation rose to a higher-than-expected 3.4% in the year to December, up from 3.2% the preceding month, dimming hopes that we might see an interest rate cut in February.

Borrowers arranging their mortgages through L&C saved more than £60m last year, thanks to a combination of avoiding paying a broker fee and ongoing rate monitoring through its Rate Check service.

Inflation dropped by more than expected in the 12 months to November, according to latest Office for National Statistics data, helped by lower clothing and food prices.

There was some much-needed festive cheer for homebuyers and those looking to remortgage this week after the Bank of England’s Monetary Policy Committee voted 5-4 to cut the base rate to 3.75%.

UK inflation fell to 3.6% in the year to October, according to the latest figures from the Office for National Statistics (ONS).

The Bank of England has kept interest rates on hold at 4% this month, but hopes are growing that a cut could come before Christmas.

Inflation held steady at 3.8% in the year to September, according to latest data from the Office for National Statistics, the third consecutive month it’s remained unchanged.

The Bank of England’s Monetary Policy Committee voted by 7-2 to leave the base rate unchanged at 4% in September, as it continues to try to balance managing inflation and supporting economic growth.

UK inflation rose to a higher-than-expected 3.8% in the 12 months to July according to the Office for National Statistics, up from 3.6% in June and its highest level since January 2024.

It’s been a busy time for the mortgage market, with a flurry of rate changes following August’s base rate decision, alongside more relaxed lending rules and lower stress rates.

The Bank of England’s Monetary Policy Committee voted to reduce the base rate by 0.25 percentage points to 4% in August, although four of the nine Committee members voted in favour of leaving rates unchanged.

Inflation jumped to a higher-than-expected 3.6% in the 12 months to June, latest Office for National Statistics data shows, up from 3.4% in May.

The Bank of England’s Monetary Policy Committee has voted 6-3 to keep the base rate unchanged at 4.25% in June, amid ongoing economic uncertainty and persistent inflationary pressures.

Inflation jumped to its highest level since January 2024 in the 12 months to April, according to the Office for National Statistics, with steeper household bills behind the increase.

The Bank of England’s Monetary Policy Committee voted 5-4 to reduce the base rate by quarter of a percentage point to 4.25% in May, with markets anticipating up to three further cuts this year.

Inflation rose by less than expected in March, raising hopes that the Bank of England’s Monetary Policy Committee may vote to cut the base rate at their next meeting in May.

Easing mortgage rates are encouraging landlords to expand their portfolios. Find out more today.

Homeowners and buyers will no doubt be heaving a sigh of relief after the Bank of England’s Monetary Policy Committee voted 7-2 to cut the base rate by quarter of a percentage point to 4.50%. Two members voted to reduce base rate by 0.50% to 4.25%.

Despite the challenges facing landlords due to recent regulatory and tax changes, growing numbers of borrowers are taking out Buy-to-Let mortgages.

The New Year has seen a sharp spike in UK borrowing costs, leaving many homeowners and buyers wondering what impact this will have on mortgage rates.