Bank of England nudges interest rates up to 0.75%

"The rise has been a long time coming, and with inflation now at decade high levels, there really is little alternative," comments Strutt & Parker, while Knight Frank Finance says "it’s clear that the…

“With the market as competitive as it is, motivated buyers can ill afford to reduce budgets, despite rises to mortgage rates and household bills," says Savills.

The Bank of England expects interest rates to climb to around 2.5% by mid-2023.