The Bank of England has lifted its main interest rate by a quarter of a percentage point to 4.5 per cent, the 12th consecutive rise since December 2021. But if interest rates are going up, why are some mortgage lenders putting their rates down? Presenter Claer Barrett is joined in the studio by Chris Giles, the FT’s economics editor and Andrew Montlake, chief executive of Mortgage Broker Coreco. They explain how the uncertain outlook for base rates is affecting mortgages, the pros and cons of fixed rate and variable rate mortgages and what mortgage rates are available at the moment.

NB: This episode is a repeat of a Money Clinic that ran on March 28th this year, days after the last Bank of England rate rise.

Want more?

Read Claer’s column about mortgage rates here

Check out a related, previous episode of Money Clinic: Interest rates, bank crises and your money

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Presented by Claer Barrett. Produced by Persis Love. Our executive producer is Manuela Saragosa. Sound design is by Jake Fielding and Breen Turner, with original music from Metaphor Music. 

Read a transcript of this episode on FT.com

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