Latest news with #mortgageBorrowers
Times
21-05-2025
- Business
- Times
What rising inflation means for savings and mortgages
Inflation has unexpectedly surged to its highest level since January last year. This could could delay further cuts to the base rate by the Bank of England, which would be a boost for savers, but not such good news for mortgage borrowers. The consumer prices index (CPI) rose to 3.5 per cent in April, up from 2.6 per cent in March. Core CPI, which strips out volatile components such as energy and food, climbed to 3.8 per cent from 3.4 per cent, while services inflation rose to 5.4 per cent from 4.7 per cent. This unexpected acceleration in inflation was caused by bill increases in April. These include council tax rates, water bills and a rise in the energy price cap that determines how much
Times
19-05-2025
- Business
- Times
Should I ditch my tracker mortgage and lock in?
Q. We have been on a tracker mortgage since September, biding our time for some meaningful rate drops, although we are increasingly keen on getting a fixed deal sorted and forgetting about it for a while. Given we have waited this long, should we hold out for some more interest rate cuts before locking in?Name supplied What might happen to interest rates this year and next is the golden question for mortgage borrowers and one that I hear often. This month the Bank of England reduced the base rate from 4.5 per cent to 4.25 per cent, which was good news for mortgage borrowers. The markets are predicting more interest rate cuts this year and next. In a fight for more customers, banks and
