BoE interest rate - comment from Access Financial Services CEO

21 March 2024

Here is a view from Karl Wilkinson of Access Financial Services, a UK mortgage and protection broker.

Karl Wilkinson, CEO at Access Financial Services, commented: “Although the 5.25% BoE base rate hasn’t come down this time round, it likely will by summer.

“Yesterday’s promising inflation dip to 3.4% has already driven down swap rates to their lowest level since September 2021. This has given lenders more headroom to drop their own rates. For example, in the past 24 hours NatWest has already cut its remortgaging and tracker rates.

“All in all, this is better news for borrowers, many of whom are really struggling with affordability.”