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Comment on 4.75% hold from Phoebus: "No surprises"
19 December 2024
Richard Pike, chief sales and marketing officer at Phoebus, said: “No surprises on today’s Base Rate decision. November’s inflation figure was higher again, as anticipated, and the Bank of England’s characteristically cautious approach was never going to allow a rate drop before the New Year.
“Consumers will take heed of the general “rates coming down” rhetoric as we move into the New Year, and I think this will positively affect gross mortgage lending figures in 2025. Lenders will be working on more efficient front-end and servicing processes so they can better manage their customers and maximise profits and margins in this constantly evolving economic picture."
