On November 3, 2022, the Bank of England declared its decision, which is to raise the prices of mortgage calculators to 3 percent. The base price has risen now from 2.25 to 0.75 percent, and this is the biggest rate that has risen since 1989.
The decision was made after the Monetary Policy Committee's nine members voted 7-2 in favor of raising interest rates to help combat inflation amid the rising cost of this crisis. With the base rate at 0.1%, this is the Bank's seventh consecutive time raising interest rates.
Mortgages that were decided against the rate that could now cause millions of homeowners' monthly mortgage payments to increase once more.
Comments
Post a Comment