UK consumers gain confidence after BoE rate cut

UK consumers gain confidence after BoE rate cut

British consumers have turned a bit more confident this month after the latest interest rate cut by the Bank of England but are vulnerable to worries about rising inflation and potential tax increases, a survey showed today.

5-year fixes offer more stability following BoE rate cut - UK Mortgage Centre

The UK Mortgage Centre has advised homeowners to consider 5-year fixed mortgage deals over 2-year deals, following the Bank of England’s (BoE’s) recent base rate cut. Sam Fox (pictured), founder of the UK Mortgage Centre, said: “Earlier this month the Bank of England took a major step by announcing a long-awaited base rate cut.  “It has sparked a flurry of questions from homeowners eager to understand how this change will impact their mortgage r…

What The Bank Of England’s Rate Cut Means For Your Mortgage, According To UK Mortgage Centre

With the lending landscape shifting, experts believe a five-year fixed mortgage may currently be the smarter choice compared with shorter-term products. The UK Mortgage Centre has moved quickly to share its advice with borrowers following the Bank of England’s decision to reduce the base rate. While the announcement did not come as a surprise, it […] The post What the Bank of England’s Rate Cut Means for Your Mortgage, According to UK Mortgage C…

Mortgage Centre Issues Guidance as Rate Cut Prompts Surge in Homeowner Questions

In the wake of the Bank of England’s latest move, specialists suggest a five-year fixed rate deal may provide better value than a two-year term. To help borrowers navigate the situation, the UK Mortgage Centre has issued practical advice on how the base rate cut could shape their mortgage repayments. Although many expected the cut, it has sparked widespread uncertainty, with homeowners keen to understand the real effect on their finances. Sam Fo…

Consumers still gloomy but rate cuts offer some hope

The Bank of England’s fleet of interest rate cuts have helped lift consumer confidence in personal finance, a leading survey has suggested, but the prospect of high inflation has left sentiment vulnerable. Bank officials are closely monitoring the effects of looser monetary policy on consumption and confidence levels across the UK.  GfK’s flagship consumer confidence survey has suggested that some of the benefits are beginning to be felt by Brit…