The Bank of England has maintained the bank rate at 0.10% at their recent monthly meeting in November, many had expected them to raise rates in response to recent rises in inflation.

A big majority vote of 7 to 2 within The Monetary Policy Committee (MPC), ensured the rate would remain at this record-low level, which dates all the way back to March 2020, when the rate was lowered from 0.25%.

However, many commentators have stated that in an attempt to get inflation back to the Bank of England target of 2% target within two years' time, bank rates are likely to start increasing within the next six months.

If your current fixed or discounted rate mortgage deal is coming to an end, now is the time to make the most of the current rates and future proof yourself against potential rises. Many banks are slowly increasing rates in anticipation of these rises over the next year.

Even if your rate is maturing in the next six months, our mortgage advisors in Barnt Green may be able to apply for a new mortgage and fix you in at the current rates.

We offer a personal service that is focused on the individual needs of each client, it is not always the cheapest mortgage rate that will suit your circumstances, so having expert advice can help tailor the solution to your personal requirements.

Many banks offer free valuations and free or assisted legal costs, so the financial incentives can really help you make the right decision.

If you would like an initial conversation on how we may be able to help, please contact our mortgage brokers in Barnt Green by calling 0121 445 1127, or filling out the enquiry form.