Bank of England keeps interest rates on hold
July 15, 2016
The Bank of England (BoE) yesterday announced that the interest rate was to remain at 0.5%, they voted by a majority of 8-1 to maintain the present Base Rate.
This was the the first meeting of the Bank of England’s Monetary Policy Committee (MPC) following the UK’s momentous Brexit decision, it was also the first rate decision to be announced under the new Prime Minster Theresa May.
This was good news for mortgage borrowers on a variable rate deal as the Base Rate influences wider interest rates, it is unlikely that they will see an increase in their mortgage pay rate in the near future.
You May Also Enjoy
Demand for qualifications doubles as Rightmove helps agents get ahead of reform
New data reveals a jump in estate and letting agents looking to get qualified, with Rightmove exam bookings more than doubling (+128%) compared to last year Leading property industry body Propertymark has seen a 51% uplift in demand for qualifications since April 2020, highlighting a long-term shift in the industry wanting formal qualifications The insight…
Read More 
Breaking Property News 5/5/26
Daily bite-sized proptech and property news in partnership with Proptech-X. New AI Real Estate Market Intelligence Platform Launches in the U.S. Press Release – New York, May 2026 — Rodland Real Estate, a leading independent brokerage headquartered in The Bahamas, has announced the U.S. launch of RoRo, an advanced AI-powered real estate market intelligence…
Read More 
Mortgage affordability at tightest level since 2008
UK Finance has today published a new Lending Where We Live report, revealing sharp differences in mortgage affordability and buy‑to‑let returns across the UK. Key findings 723,000 house purchase mortgages advanced in 2025, up 17 per cent year-on-year Average borrower spends 21.3 per cent of gross income on repayments Significant regional differences: North Norfolk and Hillingdon top the list with borrowers spending over 25 per cent of gross income Seven…
Read More 
Did landlords frontload rent hikes ahead of the RRA?
The latest insight from Inventory Base suggests that, despite the incoming Renters’ Rights Act limiting rent increases to once per year, only around a quarter of landlords appeared to pre-empt the change by front-loading rent rises ahead of the 1st May deadline. This comes amid wider policy uncertainty in the rental sector, with the UK…
Read More 
Rightmove to host live Q&A webinar on the Renters’ Rights Act
Rightmove is hosting a live Q&A webinar today to help agents better understand the Renters’ Rights Act and its practical implications as the Act takes effect. The Renters’ Rights Act: Live Q&A webinar will take place on Tuesday 5th May from 10:00am to 11:00am and will be available to watch via the Rightmove Hub. Over…
Read More 
War over bin blunders as legal expert reveals what you can actually do
Rows over rubbish are bubbling up, with fed-up homeowners losing patience over neighbours who refuse to bring their bins back in. Now, a legal expert has revealed the simple steps you can take before things spiral into a full-blown neighbourhood feud. Natalie Peacock of Rogers and Norton explained that while it might be tempting to…
Read More