It’s all panic in the mortgage market! Rates keep going up and that will negatively affect property values.
The Bank of England base rate has risen!
The Bank of England base rate was at 0.1% in February 2009 and has now jumped to 3%. The Bank of England predicted this increase in 2022 and it is mooted that the base rate will go to 5% in 2023.
If you look back at the base rate in November 1979, it was at 17% That’s the highest it has ever been since records began in 1694!
The cost of living is going up all the time and with inflation at more than 10%, this means your spending power is decreasing all the time.
Some people are worried about heating their home, running their car, even the cost of food is an issue with prices going up all the time.
The obvious solution is equity release via a lifetime mortgage.
There are lenders that provide a tax-free lump sum for you to do with as you see fit, or you can have a drawdown and take an annual cash sum. There is very little paperwork, no income or affordability assessment. Apart from the small solicitor fee there are no other costs or fees to worry about.
Contact Equity Release Brokers Limited to see how we can help.
| Month | Base Rate | Change |
| 03 Nov 2022 | 3.00% | 0.75 |
| 22 Sep 2022 | 2.25% | 0.50 |
| 04 Aug 2022 | 1.75% | 0.50 |
| 16 Jun 2022 | 1.25% | 0.25 |
| 05 May 2022 | 1.00% | 0.25 |
| 17 Mar 2022 | 0.75% | 0.25 |
| 03 Feb 2022 | 0.50% | 0.25 |
| 16 Dec 2021 | 0.25% | 0.15 |
| 19 Mar 2020 | 0.10% | 0.15 |
| 11 Mar 2020 | 0.25% | 0.50 |
| 02 Aug 2018 | 0.75% | 0.25 |
| 02 Nov 2017 | 0.50% | 0.25 |
| 04 Aug 2016 | 0.25% | 0.25 |
| 05 Mar 2009 | 0.50% | 0.50 |
| 05 Feb 2009 | 1.00% | 0.50 |
| 08 Jan 2009 | 1.50% | 0.50 |
| 04 Dec 2008 | 2.00% | 1.00 |
| 06 Nov 2008 | 3.00% | 1.50 |
| 08 Oct 2008 | 4.50% | 0.50 |
| 10 Apr 2008 | 5.00% | 0.25 |
| 07 Feb 2008 | 5.25% | 0.25 |
| 06 Dec 2007 | 5.50% | 0.25 |
| 05 Jul 2007 | 5.75% | 0.25 |
| 10 May 2007 | 5.50% | 0.25 |
| 11 Jan 2007 | 5.25% | 0.25 |
| 09 Nov 2006 | 5.00% | 0.25 |
| 03 Aug 2006 | 4.75% | 0.25 |
| 04 Aug 2005 | 4.50% | 0.25 |
| 05 Aug 2004 | 4.75% | 0.25 |
| 10 Jun 2004 | 4.50% | 0.25 |
| 06 May 2004 | 4.25% | 0.25 |
| 05 Feb 2004 | 4.00% | 0.25 |
| 06 Nov 2003 | 3.75% | 0.25 |
| 10 Jul 2003 | 3.50% | 0.25 |
| 06 Feb 2003 | 3.75% | 0.25 |
| 08 Nov 2001 | 4.00% | 0.50 |
| 04 Oct 2001 | 4.50% | 0.25 |
| 18 Sep 2001 | 4.75% | 0.25 |
| 02 Aug 2001 | 5.00% | 0.25 |
| 10 May 2001 | 5.25% | 0.25 |
| 05 Apr 2001 | 5.50% | 0.25 |
| 08 Feb 2001 | 5.75% | 0.25 |
| 10 Feb 2000 | 6.00% | 0.25 |
| 13 Jan 2000 | 5.75% | 0.25 |
| 04 Nov 1999 | 5.50% | 0.25 |
| 08 Sep 1999 | 5.25% | 0.25 |
| 10 Jun 1999 | 5.00% | 0.25 |
| 08 Apr 1999 | 5.25% | 0.25 |
| 04 Feb 1999 | 5.50% | 0.50 |
| 07 Jan 1999 | 6.00% | 0.25 |
| 10 Dec 1998 | 6.25% | 0.50 |
| 05 Nov 1998 | 6.75% | 0.50 |
| 08 Oct 1998 | 7.25% | 0.25 |
| 04 Jun 1998 | 7.50% | 0.25 |
| 06 Nov 1997 | 7.25% | 0.25 |
| 07 Aug 1997 | 7.00% | 0.25 |
| 10 Jul 1997 | 6.75% | 0.25 |
| 06 Jun 1997 | 6.50% | 0.25 |
| 06 May 1997 | 6.25% | 0.31 |
| 30 Oct 1996 | 5.94% | 0.25 |
| 06 Jun 1996 | 5.69% | 0.25 |
| 08 Mar 1996 | 5.94% | 0.19 |
| 18 Jan 1996 | 6.13% | 0.25 |
| 13 Dec 1995 | 6.38% | 0.25 |
| 02 Feb 1995 | 6.63% | 0.50 |
| 07 Dec 1994 | 6.13% | 0.50 |
| 12 Sep 1994 | 5.63% | 0.50 |
| 08 Feb 1994 | 5.13% | 0.25 |
| 23 Nov 1993 | 5.38% | 0.50 |
| 26 Jan 1993 | 5.88% | 1.00 |
| 13 Nov 1992 | 6.88% | 1.00 |
| 16 Oct 1992 | 7.88% | 1.00 |
| 22 Sep 1992 | 8.88% | 1.00 |
| 05 May 1992 | 9.88% | 0.50 |
| 04 Sep 1991 | 10.38% | 0.50 |
| 12 Jul 1991 | 10.88% | 0.50 |
| 24 May 1991 | 11.38% | 0.50 |
| 12 Apr 1991 | 11.88% | 0.50 |
| 22 Mar 1991 | 12.38% | 0.50 |
| 27 Feb 1991 | 12.88% | 0.50 |
| 13 Feb 1991 | 13.38% | 0.50 |
| 08 Oct 1990 | 13.88% | 1.00 |
| 06 Oct 1989 | 14.88% | 1.13 |
| 08 Sep 1989 | 13.75% | 0.13 |
| 04 Sep 1989 | 13.88% | 0.04 |
| 31 Aug 1989 | 13.84% | 0.09 |
| 25 May 1989 | 13.75% | 0.87 |
| 25 Nov 1988 | 12.88% | 1.00 |
| 25 Aug 1988 | 11.88% | 1.00 |
| 08 Aug 1988 | 10.88% | 0.50 |
| 21 Jul 1988 | 10.38% | 0.50 |
| 07 Jul 1988 | 9.88% | 1.00 |
| 24 Jun 1988 | 8.88% | 0.50 |
| 10 Jun 1988 | 8.38% | 0.50 |
| 03 Jun 1988 | 7.88% | 0.50 |
| 17 May 1988 | 7.38% | 0.50 |
| 08 Apr 1988 | 7.88% | 0.50 |
| 17 Mar 1988 | 8.38% | 0.50 |
| 01 Feb 1988 | 8.88% | 0.50 |
| 03 Dec 1987 | 8.38% | 0.50 |
| 04 Nov 1987 | 8.88% | 0.50 |
| 23 Oct 1987 | 9.38% | 0.50 |
| 06 Aug 1987 | 9.88% | 1.00 |
| 08 May 1987 | 8.88% | 0.50 |
| 28 Apr 1987 | 9.38% | 0.50 |
| 18 Mar 1987 | 9.88% | 0.50 |
| 09 Mar 1987 | 10.38% | 0.50 |
| 15 Oct 1986 | 10.88% | 1.00 |
| 23 May 1986 | 9.88% | 0.50 |
| 18 Apr 1986 | 10.38% | 0.50 |
| 11 Apr 1986 | 10.88% | 0.50 |
| 19 Mar 1986 | 11.38% | 1.00 |
| 15 Jan 1986 | 12.38% | 1.00 |
| 26 Jul 1985 | 11.38% | 0.50 |
| 11 Jul 1985 | 11.88% | 0.50 |
| 19 Apr 1985 | 12.38% | 0.50 |
| 28 Mar 1985 | 12.88% | 0.50 |
| 20 Mar 1985 | 13.38% | 0.50 |
| 28 Jan 1985 | 13.88% | 2.00 |
| 14 Jan 1985 | 11.88% | 2.38 |
| 23 Nov 1984 | 9.50% | 0.25 |
| 19 Nov 1984 | 9.75% | 0.25 |
| 05 Nov 1984 | 10.00% | 0.50 |
| 17 Aug 1984 | 10.50% | 0.25 |
| 16 Aug 1984 | 10.75% | 0.25 |
| 09 Aug 1984 | 11.00% | 0.50 |
| 08 Aug 1984 | 11.50% | 0.50 |
| 11 Jul 1984 | 12.00% | 2.00 |
| 06 Jul 1984 | 10.00% | 1.12 |
| 29 Jun 1984 | 8.88% | 0.18 |
| 10 May 1984 | 9.06% | 0.50 |
| 14 Mar 1984 | 8.56% | 0.25 |
| 07 Mar 1984 | 8.81% | 0.25 |
| 03 Oct 1983 | 9.06% | 0.50 |
| 10 Aug 1983 | 9.56% | 0.12 |
| 09 Aug 1983 | 9.44% | 0.12 |
| 14 Jun 1983 | 9.56% | 0.25 |
| 13 Jun 1983 | 9.81% | 0.25 |
| 14 Apr 1983 | 10.06% | 0.25 |
| 13 Apr 1983 | 10.31% | 0.25 |
| 15 Mar 1983 | 10.56% | 0.44 |
| 12 Jan 1983 | 11.00% | 1.00 |
| 26 Nov 1982 | 10.00% | 0.87 |
| 02 Nov 1982 | 9.13% | 0.25 |
| 01 Nov 1982 | 9.38% | 0.25 |
| 12 Oct 1982 | 9.63% | 0.50 |
| 30 Sep 1982 | 10.13% | 0.12 |
| 29 Sep 1982 | 10.25% | 0.13 |
| 28 Sep 1982 | 10.38% | 0.12 |
| 27 Sep 1982 | 10.50% | 0.13 |
| 27 Aug 1982 | 10.63% | 0.25 |
| 26 Aug 1982 | 10.88% | 0.12 |
| 25 Aug 1982 | 11.00% | 0.13 |
| 24 Aug 1982 | 11.13% | 0.12 |
| 17 Aug 1982 | 11.25% | 0.13 |
| 16 Aug 1982 | 11.38% | 0.12 |
| 04 Aug 1982 | 11.50% | 0.06 |
| 02 Aug 1982 | 11.56% | 0.07 |
| 30 Jul 1982 | 11.63% | 0.12 |
| 29 Jul 1982 | 11.75% | 0.06 |
| 28 Jul 1982 | 11.81% | 0.13 |
| 26 Jul 1982 | 11.94% | 0.12 |
| 21 Jul 1982 | 12.06% | 0.07 |
| 13 Jul 1982 | 12.13% | 0.12 |
| 12 Jul 1982 | 12.25% | 0.25 |
| 09 Jul 1982 | 12.50% | 0.13 |
| 08 Jun 1982 | 12.63% | 0.50 |
| 20 Apr 1982 | 13.13% | 0.13 |
| 19 Apr 1982 | 13.00% | 0.13 |
| 16 Apr 1982 | 13.13% | 0.12 |
| 10 Mar 1982 | 13.25% | 0.38 |
| 25 Feb 1982 | 13.63% | 0.18 |
| 22 Feb 1982 | 13.81% | 0.07 |
| 22 Jan 1982 | 13.88% | 0.12 |
| 21 Jan 1982 | 14.00% | 0.13 |
| 20 Jan 1982 | 14.13% | 0.12 |
| 19 Jan 1982 | 14.25% | 0.06 |
| 18 Jan 1982 | 14.31% | 0.07 |
| 04 Dec 1981 | 14.38% | 0.18 |
| 25 Nov 1981 | 14.56% | 0.07 |
| 09 Nov 1981 | 14.63% | 0.43 |
| 06 Nov 1981 | 15.06% | 0.07 |
| 28 Oct 1981 | 15.13% | 0.13 |
| 12 Oct 1981 | 15.00% | 1.00 |
| 15 Sep 1981 | 14.00% | 1.31 |
| 25 Aug 1981 | 12.69% | 0.69 |
| 11 Mar 1981 | 12.00% | 2.00 |
| 25 Nov 1980 | 14.00% | 2.00 |
| 03 Jul 1980 | 16.00% | 1.00 |
| 15 Nov 1979 | 17.00% | 3.00 |
| 13 Jun 1979 | 14.00% | 2.00 |
| 05 Apr 1979 | 12.00% | 1.00 |
| 01 Mar 1979 | 13.00% | 1.00 |
| 08 Feb 1979 | 14.00% | 1.50 |
| 09 Nov 1978 | 12.50% | 2.50 |
| 08 Jun 1978 | 10.00% | 1.00 |
| 15 May 1978 | 9.00% | 0.25 |
| 08 May 1978 | 8.75% | 1.25 |
| 12 Apr 1978 | 7.50% | 1.00 |
| 09 Jan 1978 | 6.50% | 0.50 |
| 28 Nov 1977 | 7.00% | 2.00 |
| 17 Oct 1977 | 5.00% | 0.50 |
| 10 Oct 1977 | 5.50% | 0.50 |
| 19 Sep 1977 | 6.00% | 0.50 |
| 12 Sep 1977 | 6.50% | 0.50 |
| 15 Aug 1977 | 7.00% | 0.50 |
| 08 Aug 1977 | 7.50% | 0.50 |
| 16 May 1977 | 8.00% | 0.25 |
| 02 May 1977 | 8.25% | 0.50 |
| 25 Apr 1977 | 8.75% | 0.25 |
| 18 Apr 1977 | 9.00% | 0.25 |
| 12 Apr 1977 | 9.25% | 0.25 |
| 31 Mar 1977 | 9.50% | 1.00 |
| 21 Mar 1977 | 10.50% | 0.50 |
| 10 Mar 1977 | 11.00% | 1.00 |
| 03 Feb 1977 | 12.00% | 0.25 |
| 31 Jan 1977 | 12.25% | 1.00 |
| 24 Jan 1977 | 13.25% | 0.75 |
| 10 Jan 1977 | 14.00% | 0.25 |
| 29 Dec 1976 | 14.25% | 0.25 |
| 20 Dec 1976 | 14.50% | 0.25 |
| 22 Nov 1976 | 14.75% | 0.25 |
| 07 Oct 1976 | 15.00% | 2.00 |
| 13 Sep 1976 | 13.00% | 1.50 |
| 24 May 1976 | 11.50% | 1.00 |
| 26 Apr 1976 | 10.50% | 1.50 |
| 08 Mar 1976 | 9.00% | 0.25 |
| 01 Mar 1976 | 9.25% | 0.25 |
| 09 Feb 1976 | 9.50% | 0.50 |
| 02 Feb 1976 | 10.00% | 0.50 |
| 26 Jan 1976 | 10.50% | 0.25 |
| 19 Jan 1976 | 10.75% | 0.25 |
| 05 Jan 1976 | 11.00% | 0.25 |
| 29 Dec 1975 | 11.25% | 0.25 |
| 01 Dec 1975 | 11.50% | 0.25 |
| 17 Nov 1975 | 11.75% | 0.25 |
| 06 Oct 1975 | 12.00% | 1.00 |
| 28 Jul 1975 | 11.00% | 1.00 |
| 05 May 1975 | 10.00% | 0.25 |
| 21 Apr 1975 | 9.75% | 0.25 |
| 24 Mar 1975 | 10.00% | 0.25 |
| 10 Mar 1975 | 10.25% | 0.25 |
| 17 Feb 1975 | 10.50% | 0.25 |
| 10 Feb 1975 | 10.75% | 0.25 |
| 27 Jan 1975 | 11.00% | 0.25 |
| 20 Jan 1975 | 11.25% | 0.00 |