Interest rates are rising

In the September meeting, the Bank of England increased its bank rate to 2.25%. Its seventh consecutive rise and again increasing the rate by a significant amount (+0.5 percentage points).

Many UK borrowers are protected from any immediate increase by fixed rates (representing 94% of new mortgages*) but borrowing costs are rising for many existing and all new borrowers.
The Bank of England needed to take decisive action to ensure high inflation doesn’t become entrenched. The UK is certainly not alone in this; the Federal Reserve in the US also increased rates significantly this month, so too the European Central Bank.
Consensus forecasts, compiled by HM Treasury, suggest that UK inflation could be back to more normal levels for 2023 at 4.5%. Source: Dataloft, Financial Conduct Authority, Q1 2022 data, Federal Reserve, European Central Bank, Bank of England, FT

Get in touch with us

First Name

Last Name

Mobile Phone

Your Email Address

Are you looking to

Buy

Sell

Rent

Let

Please enter message here

Please confirm that it is okay for us to contact you about this information as well as our products and services. By confirming, you also agree to the use of cookies to enhance your experience. (You will always have the right to unsubscribe or manage your cookie preferences at any point in the future.)

Confirm

UK Property Market Update: October 2026

Autumn activity is returning to the property market, but affordability continues to shape decisions. We look at the latest prices, buyer demand, mortgage figures and what they mean for movers.

CLICK HERE >

Is Your Home Ready to Compete for Buyers?

Buyers have plenty to compare this autumn, which makes the way a home enters the market increasingly important. A strong first impression, realistic price and thoughtful presentation can all help attract the right attention.

CLICK HERE >

New First-Time Buyer Scheme: What We Know So Far

A new government scheme could help first-time buyers purchase with a deposit of just 2.5%. With more details expected at the October Budget, here’s what prospective buyers need to know.

CLICK HERE >

Can You Still Move House Before Christmas?

Hoping to be in your next home by Christmas? With property transactions taking months rather than weeks, October is the time to understand what’s realistic — and why it can still pay to get moving.

CLICK HERE >