Base rate is still the same

According to the announcement made by the Bank of England on the 13th of January, the base rate of interest will be the same for one more month, and a large number of UK borrowers can heave a sigh of relief now.

Still, there is an increasing pressure to change the base rate sooner than it was projected as the inflation is now running at the high level of 3.3%.

The latest survey carried out by unbiased.co.uk has revealed that an average mortgage borrower in UK is now only ready to sign a fixed-rate deal provided the interest rate doesn’t exceed 3.3%.

As a result, the financial website writes that the new generation of borrowers can be called “rate-spoilt” because only a year ago, an interest rate of 4% would have been taken as acceptable.

 


Articles

The cultural transformations that have made people accept life in debt have had a direct impact on the approach youngsters take to money matters, which could lead to negative consequences in the long run as many of the next generation would resort to IVAs to cope with serious financial issues.

When we put efforts into our work and get paid for this, we get an amazing feeling of satisfaction. Our hard hard work seems to have been remunerated financially. We go shopping and buy the items we need and the items we simply want.