{"id":740,"date":"2023-06-27T17:16:55","date_gmt":"2023-06-27T16:16:55","guid":{"rendered":"https:\/\/wearesapphire.co.uk\/\/accounting\/?post_type=insights&p=740"},"modified":"2024-04-02T17:18:29","modified_gmt":"2024-04-02T16:18:29","slug":"interest-rate-at-5","status":"publish","type":"insights","link":"https:\/\/wearesapphire.co.uk\/accounting\/insights\/interest-rate-at-5\/","title":{"rendered":"Interest rate at 5%"},"content":{"rendered":"

The Bank of England\u2019s<\/a>\u00a0latest decision to increase the base rate of interest to 5% is going to hit households hard with mortgage rates set to increase.<\/p>\n

These latest inflation figures only add to the market turmoil we have seen in recent months. Anyone who has been looking for a new fixed rate mortgage, whether it is to buy their first property or to replace a deal that is coming to an end, will know how testing it has been over the last few months.<\/p>\n

The decision marks the bank\u2019s 13th base rate increase since December 2021, but what does that mean for you?<\/p>\n

We have already seen hundreds of mortgage rates increase, with mortgage products being pulled or repriced upwards and with more than 6.8 million fixed rate mortgages due to come to an end in the coming months, there really is no time to waste.<\/p>\n

If you need advice or you would like to talk through your mortgage or remortgage application\u00a0get in touch<\/a>\u00a0today to arrange a free consultation.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Bank of England\u2019s\u00a0latest decision to increase the base rate of interest to 5% is going to hit households hard with mortgage rates set to increase.<\/p>\n","protected":false},"author":1,"featured_media":741,"menu_order":0,"template":"","class_list":["post-740","insights","type-insights","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\nInterest rate at 5% - Sapphire Accounting<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wearesapphire.co.uk\/accounting\/insights\/interest-rate-at-5\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Interest rate at 5% - Sapphire Accounting\" \/>\n<meta property=\"og:description\" content=\"The Bank of England\u2019s\u00a0latest decision to increase the base rate of interest to 5% is going to hit households hard with mortgage rates set to increase.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wearesapphire.co.uk\/accounting\/insights\/interest-rate-at-5\/\" \/>\n<meta property=\"og:site_name\" content=\"Sapphire Accounting\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-02T16:18:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wearesapphire.co.uk\/accounting\/wp-content\/uploads\/sites\/2\/2024\/04\/interest-rate.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/wearesapphire.co.uk\\\/accounting\\\/insights\\\/interest-rate-at-5\\\/\",\"url\":\"https:\\\/\\\/wearesapphire.co.uk\\\/accounting\\\/insights\\\/interest-rate-at-5\\\/\",\"name\":\"Interest rate at 5% - 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