House Prices

Bank of England Interest Rate Rises to 5%

Bank Rate News

The Bank of England has raised mortgage rates for the 13th consecutive time. The BoE rate has now increased to 5%.

Read the full announcement from the BoE here

Many economists are predicting further possible rate rises.

In recent days many mortgage lenders have withdrawn mortgage products from the market in anticipation of a possible rate rise. Repriced mortgage products have been re-introduced post the rate rise announcement.

The next BoE rate review is on the 3rd of August 2023

Birmingham Midshires have not immediately increased their product interest rates, however if past patterns are to be followed – there is a possibility Birmingham Midshires may increase product rates at the end of month.

Beat the Bank of England Rate Rise

Secure a new Birmingham Midshires Product Today

If your existing Birmingham Midshires product is coming up for expiry within the next 6 months – you can secure a new rate now. Use our efficient product transfer service – a regulated adviser will ensure you are securing the most suitable product for your needs.

Current 5 Year Fixed rates start from 5.53%

You can check live NEW borrower rates here or for existing borrowers, call us or send your enquiry via the form below.