Inflation has risen again after falling in last month’s reading – it is at the highest level in 10 months
Read MoreInflation rises to 3% – what it means for your mortgage, pension and more
Tag: inflation
Homeowners in the North hardest hit by higher mortgage costs with number in arrears rising
Homeowners in parts of Northern England are more than twice as likely to be behind on their mortgage repayments as those in the south, new research has revealed.
Read MoreLenders cut mortgage costs despite Bank decision to freeze base rate
Mortgage lenders are cutting rates despite the Bank of England decision yesterday to hold the base interest rate at 5%.
The Bank’s Monetary Policy Committee voted by a majority of 8–1 to maintain the rate at 5% after making a cut of 0.25% last month.
Read MoreMortgage rate cuts are unlikely to be ‘disturbed’ by first inflation rise of the year – here’s why
The trend of lenders cutting mortgage rates is unlikely to be ‘disturbed’ by the first inflation rise of the year, according to experts.
Inflation rose to 2.2 per cent in the 12 months to July, up from 2 per cent the previous month, ONS figures revealed earlier today.
While it means inflation is back above the Bank of England’s 2 per cent target, it was a smaller-than-expected rise with markets expecting a 2.3 per cent increase.
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