- Thursday, February 15th, 2018
The Rate Rise Shock
It’s been 10 years since the government starting dropping the base interest rates in the UK. It was now at its lowest ever rate (0.25%) for around 300 years. Many homeowners perceived these low rates as the norm, even though some were still struggling to make monthly payments and juggle their finances accordingly. On the 2nd November 2017, the Bank of England put into effect an increase in the base rate to 0.5% shocking many people who have come to rely on rates being extremely low.Continue Reading..