Mortgage Market News

Uncertainty over deal or no deal leads to interest rate hold

Brexit - accidental landlords

It was perhaps no surprise to hear today’s announcement that the Bank of England will be holding interest rates at 0.75%. With the Brexit deadline looming fast and still no certainty as to the UK’s position come 29th March, the Monetary Policy Committee (MPC) could really do little else than adopt a cautious approach.

Perhaps the biggest question now is; deal or no deal – what will happen to interest rates post Brexit? Governor Mark Carney’s so-called ‘Doomsday scenario’ caused controversy when it stated that inflation rates could rise as high as 5.5% if a plunging pound sent inflation soaring[i]. Other experts claimed that interest rates might – in fact – sink below zero for the first time[ii].

It’s now a decade since the MPC slashed rates to 0.5% in the wake of the financial crisis, meaning a whole generation have never seen interest rates hit 1%. They are still forecast to rise over 1% but – in line with the US and Eurozone – this is now predicted at a much slower rate than outlined in November 2018.

All eyes will be on 29th March and the impact of the Brexit deal – or no deal – on the pound and inflation. Interesting and unprecedented times are sure to be ahead and if you have any queries, concerns or thoughts on how Brexit might affect your situation, don’t hesitate to get in touch with our team of expert advisers, who are always on hand to help.




Your home may be repossessed if you do not keep up repayments on your mortgage.

You may have to pay an early repayment charge to your existing lender if you remortgage.


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Your home or property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Changes in the exchange rate may increase the sterling equivalent of your debt. You may have to pay an early repayment charge to your existing lender if you remortgage. Think carefully before securing any other debts against your home. is a trading name of Ltd, Aegon House, Ground Floor Suite, 13 Lanark Square, London, E14 9QD authorised and regulated by the Financial Conduct Authority (FCA). Our FCA registration number is 302228 and can be viewed by visiting the FCA website: The FCA does not regulate tax advice or some aspects of commercial, buy to let, overseas mortgages, bridging finance, finance and asset lending. Ltd is a licensed credit broker, and not a lender. Limited is registered with the Guernsey Financial Services Commission, reference number: 2269418, as a Non-Regulated Financial Services Business. Ltd Registered in England and Wales No: 5070990 Registered Address: As above. The guidance and advice contained within the website are subject to the UK regulatory regime and is primarily targeted at UK customers. Calls may be recorded for training and monitoring.