The Bank of England Raises Interest Rates to 4%

Caz Blake-Symes • February 2, 2023

As of Thursday 2 February 2023, the Bank of England raises its base rate from 3.5% to 4% - the highest in 14 years.

It also says the UK is set to enter recession this year, but this will be shorter than previously thought. The Bank of England expects the economy to "fall slightly" in 2023 as energy costs and other prices continue to ease.

It also forecasts that the inflation rate will continue to slow this year and firms are likely to ho00ld off on making redundancies. A higher interest rate will be welcomed by savers, but have a knock-on effect for those with mortgages, credit card debt and bank loans.

The 4% rise means people with a typical tracker mortgage will pay about £49 more a month - while those on a variable mortgage will pay another £31 a month.

The advice from Bristol, Bath & Exeter Mortgages Online is for you to keep talking to us about the choice of products on the market. We have invested heavily in software to ensure that we always have the very latest information. We also have excellent relationships with many lenders who will always try and help us with any specific individual situations our clients may have.

As independent mortgage brokers we are certain that you will be very pleased with the mortgage options that we can provide.

For further details about the mortgage and protection products we offer as a fully independent mortgage broker or any other mortgage information book your FREE CONSULTATION with one of our expert Mortgage Advisers.


Bristol Mortgages Online          www.bristolmortgagesonline.com    Tel 0117 325 1511

Bath Mortgages Online             www.bathmortgagesonline.com         Tel 01225 584 888

Exeter Mortgages Online           www.exetermortgagesonline.com   Tel 01392 690 888

Email info@swmortgages.com

 

#bristolmortgagebroker #bestmortgageadvice #bristolmortgageadviser,#expertmortgageadvice

#independentmortgagebroker #bestmortgagedeals #firsttimebuyermortgage #bestremortgagedeal

#freemortgageconsultation #bestmortgagebroker #buytoletmortgage #investmentmortgage

#hmomortgage #highlyratedmortgagebroker #fivestarrated #googleverified #movetobristol

#endoffixedterm #besttimetoremortgage #earlyredemptionfee #ERC #guarantormortgage

#jointborrowersoleproprietermortgage #affordabili#stresstest#bestbroker#stampduty#cgt#autumnstatement

#houseprices#housingmarket2023




 

Zoopla’s House Price Index: September 2025

By Caz Blake-Symes • October 13, 2025
Pre-Budget speculation over possible tax changes is impacting market activity for homes over £500,000. The rest of the mainstream housing market is carrying on, largely unaffected.

What You Should Know About Second Charge Mortgages

By Caz Blake-Symes • October 6, 2025
Thinking about borrowing more money, but worried about losing your current mortgage deal? You’re not alone. With interest rates shifting in 2025, many homeowners are

Check Out Our September 2025 Newsletter!

By Caz Blake-Symes • September 30, 2025
Check Out Our September 2025 Newsletter!
Rental market conditions are starting to normalise as supply and demand rebalance. The

Zoopla’s Rental Market Report: September 2025

By Caz Blake-Symes • September 24, 2025
Rental market conditions are starting to normalise as supply and demand rebalance. The affordability

Should I Remortgage Before The End of My Fixed Term?

By Caz Blake-Symes • September 15, 2025
Thinking of switching your mortgage before your fixed rate ends? You’re not alone. With interest rates changing in 2025, many homeowners are asking: “Can I remortgage before the end of my fixed term — and is it worth it?” Here’s what you need to know before making a move.

An Essential Guide to Protecting Your Home and Family

By Caz Blake-Symes • September 11, 2025
Bristol, Bath and Exeter Mortgages Online always recommend a Fully Protected Mortgage As an experienced Mortgage Broker, we are not only mortgage specialists, but we can also access a huge selection of providers for your insurance protection needs too.

Navigating the Buy-to-Let Market in 2025

By Caz Blake-Symes • September 1, 2025
The buy-to-let market in 2025 is evolving, and with changing tax rules, shifting demand, and rising costs, landlords need more than just a good property. You need a clear financial strategy and the right mortgage to match.

Welcome to our August 2025 Newsletter!

By Caz Blake-Symes • August 29, 2025
Welcome to our August 2025 Newsletter!

How to Save on Your Mortgage Costs

By Caz Blake-Symes • August 14, 2025
With many households feeling the pressure of rising mortgage bills, finding ways to reduce monthly payments has never been more important. Whether you’re coming to the end of a fixed-rate deal or just looking for financial breathing room, there are smart, practical steps you can take to lower your costs.

Effortless Expat Solutions

By Caz Blake-Symes • August 11, 2025
We specialise in providing mortgage solutions for expat clients. Phil has over 30 years of experience in working with Expat clients, and now that Bristol Mortgages Online is a trading style of Manor Mortgages, we have an even greater choice of products to offer.