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28 Mar 2024
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Moneyfacts.co.uk comments on the base rate reduction to 5.50%

Andrew Hagger of moneyfacts.co.uk comments:

 "Whilst a base rate reduction in December last occurred some nine years ago, it will come as welcome relief to individuals and companies who have had to shoulder a steadily increasing interest burden since the first of five consecutive rate rises in August 2006.

"Although the housing market and those due to come off a fixed rate mortgage in the near future will welcome the first rate reduction since August 2005, there are still potential inflationary pressures from rising food and oil prices for the MPC to keep a close eye on." 

 

About The Moneyfacts Group

Moneyfacts is recognised as the UK’s leading provider of independent personal finance information. For the last 20 years, Moneyfacts’ information has been the key driver behind many personal finance decisions, from the Treasury to the high street.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Think carefully before securing other debts against your home, your home may be repossessed if you do not keep up repayments on your mortgage.

Go Direct.co.uk is a trading style for website purposes of Go Direct UK Ltd.

Go Financial Services is a trading style of Go Direct UK Ltd which is an appointed representative of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority. Registered in England & Wales Company 5703224. FCA Number 456600

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