In response to the latest Bank of England decision to hold interest rates, Nick Leeming, Chairman of Jackson-Stops, comments:

“The Bank of England’s decision to hold rates at 3.75 percent underscores the cautious stance signalled by last month’s narrow vote. Markets had been anticipating gradual cuts throughout 2026, but that scenario now appears unlikely in the near term due to ongoing geopolitical uncertainty.

"Rising inflation and higher energy prices have reinforced the case for holding rates steady, with many lenders already moving fixed mortgage rates above 5 percent.

"For the roughly 1.8 million homeowners needing to refinance in 2026, today’s decision provides a measure of stability. While borrowing costs remain higher than in recent years, they are still below long-term averages.

"Looking ahead, the trajectory of rates will depend on how inflation evolves, leaving the Bank with a delicate balancing act in the months to come.”