The Bank of England will soon decide whether interest rates will be raised again.
The base rate is what the Bank of England charges other banks and lenders - this in turn then influences the rates you are charged as a customer when you borrow money. If interest rates are higher, you'll pay more to borrow on products like variable-rate mortgages.
The central bank increased the base rate on May 11 to 4.5%. The next announcement will be on June 22. Some experts have suggested that mortgage rates could tick upwards amid expectations that the Bank of England base rate will need to rise higher than its current level of 4.5%
