UK Mortgage Rates Rise Amid Bank of England Decision

Major UK lenders HSBC, NatWest, Barclays, and Nationwide have increased mortgage rates, with the average two-year fixed mortgage rate rising to 4.53%. The Bank of England has kept interest rates on hold at 3.75%, but experts predict further cuts may be in the pipeline. Some borrowers may benefit from improved mortgage affordability and the ability to refinance at lower rates, while others may face higher repayments as ultra-low fixed rates expire.