Base rate remains at 0.5% for 73rd month in a row

The Bank of England has voted to maintain its base rate, marking 73 consecutive months at 0.5 per cent.

The MPC also voted to keep quantitative easing programmes at £375bn, a level that has been maintained since July 2012 when it was increased by £50bn.

The Bank’s base rate has sat at 0.5 per cent since March 2009.

Legal & General Mortgage Club director Stephen Smith says: “At the moment there are some very competitive deals around and anyone who is thinking about moving house or who is coming to the end of a mortgage deal should speak to a broker now about which deal would be right for them. 

”Those who wait until interest rates start to rise risk missing out on the best deals as banks will raise their rates long before the Bank of England makes an announcement.”