Redwood Bank CEO reacts to Base Rate decision
19 September 2024
Redwood Bank's CEO and co-founder Gary Wilkinson has issued the below statement following today's Base Rate decision:
“The decision to hold base rate this month is not unexpected news. Professional landlords and businesses with mortgages where mortgage finance forms a significant part of their costs had hoped rates would fall sooner and faster in 2024.
“Those businesses with cash to invest should regularly compare interest rates to ensure they receive a competitive interest rate. They should also consider if they want to lock in their interest rates now by using a fixed-rate term product, particularly if they think base rate will fall later in 2024 and into 2025. They should be mindful, however, that they won’t need access to funds during the fixed term.”
