Has the base rate rise made you more cautious about buying?

Last week the Bank of England\'s Monetary Policy Committee increased the base rate to 4.75%, having held it at 4.5% for 11 months in a row. This move will have an effect on businesses and borrowers and could also have an impact on consumer confidence in the property market.

So, this week Mortgage Strategy asks...

Ren Kainth, 26, events manager
I have a student loan to pay off so there is no way I can consider getting a mortgage at the moment. I was discussing the rise in the interest rate with my mum and I would feel worried and more cautious about buying a house as a result of it. I would probably go for a fixed rate mortgage as I feel there is less risk involved in these and a lot of my family are on them.

Paul Speed, 36, projectionist
The base rate rise will not affect my decision to buy a house. But interest rates going up is not a good thing for the economy generally, and this upward move is bound to have a knock-on effect on mortgages and banks.

Chris Gray, 41, video editor
I have a tracker rate mortgage so when the base rate rises there’s nothing I can do about it. I’ll just have to deal with it. Bills go up all the time anyway and everything is getting more expensive. The only thing I can do is work harder and make more money. I have got another six months before I can get out of the deal I’m on, but when the time is up I might think about switching deals.

Cara Kotschy, 25, facilities manager
I am looking to get on the property latter and splitting the cost with friends. If interest rates are going up, salaries and inflation are also going up so this move is not necessarily a bad thing. But buying in central London is tough and any interest rate rise is bad news.

Laura Ricketts, 27, producer
If I were to buy a house soon I would think about getting a fixed rate mortgage. I was already considering the benefits of a fixed rate and last week’s announcement has reaffirmed my belief in the idea. I would rather play it safe than take the risk of the interest rate rising again.

Brian Servante, 32, 3D animator
There is always the feeling now that interest rates will go up. The main thing for me is security so I would opt for a fixed rate mortgage now. I remember the high interest rates of a few years ago and there’s nothing to say that won’t happen again.

Mark Peters, 21, sales representative
This is a worry. Coping was hard enough money. The amount of money you have to pay out for loans and bills is already ridiculously high so anything that makes things even more difficult is a problem. Interest rates are extortionate as they stand. When I get a mortgage I may get a fixed rate but then there is the possibility the rate could drop and I’d miss out on the benefit. I would have to look into it long and hard to make the right decision.

Emma Bigger, 26, fashion assistant
If you go for a fixed rate mortgage you won’t be affected by interest rate rises so that would be the option for me. I hope to get on the property ladder within the next couple of years and I will look into the fixed rates on offer then. Even though there’s a chance repayments might fall with a tracker I wouldn’t want to take the risk.