Mortgages for Business is committed to keeping both our staff and clients safe during the COVID-19 outbreak while maintaining the best service possible. Our teams are working from home, but don’t worry, you can still contact us in the usual ways.
To read our comprehensive FAQ guide on how the emergency interest rate reduction and Coronavirus outbreak could affect your mortgage, please click here.
If you want to request a payment holiday, please contact your lender directly. For lender contact details, click here.

Bank of England maintains Bank Rate at 0.5%

The Bank of England’s Monetary Policy Committee has once again voted to maintain Bank Rate at 0.5%.

At its meeting on 9th September 2015, the Monetary Policy Committee voted by a majority of 8-1 to maintain Bank Rate at 0.5%, marking 78 months in a row without change.

Ian McCafferty was the only committee member to vote for an increase in the main interest rate, suggesting a rise of 0.25%. It is said he believed that costs were likely to go up in the UK and lead to inflation overshooting the Bank’s target.

A statement issued by the Bank said “All members agree that, given the likely persistence of the headwinds weighing on the economy, when Bank Rate does begin to rise, it is expected to do so more gradually and to a lower level than in recent cycles,”.

Author

NB: ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Get in contact with us: 0345 345 6788 or ...

Submit an enquiry
Arrange a call back