A mortgage expert has advised people to buy "as soon as possible" as the Bank of England looks to increase its base rate yet further.
Speaking to Bristol Live, Graham Cox, the director of Self-Employment Mortgage Hub, which is based in Thornbury, urged "anyone who must buy now, try to do so as soon as possible before rates go even higher".
The Bank of England increased its base rate on Thursday from 0.25 per cent to 0.5 per cent. After they rose from 0.1 per cent to 0.25 per cent in December, today's announcement marks the first back-to-back base rate rise since 2004. The Bank's monetary policy committee voted 5-4 in favour of the rise - though the four voting against actually wanted to raise the rate higher, to 0.75 per cent. The rate is predicted to rise higher throughout 2022, with inflation predicted to go above seven per cent.
