View more on these topics

Base rate rise could cost borrowers almost £300m

Egg warns that today’s 0.25% increase in the Bank of England’s base rate could cost borrowers £292m.

It says the eight million people with standard variable rate mortgages could collectively be paying substantially more a month more on their mortgages, or on average around £35.92 each.

However, Egg says that many people could actually reduce their mortgage repayment by shopping around to find a more competitive mortgage.

Egg research shows that the average rates for a two-year fixed rate mortgage and a two-year discounted rate mortgage are 5.48 per cent and 5.16 per cent respectively, but the average rates for the top 25 per cent most competitive fixed and discounted rates are 4.92 per cent and 4.43 per cent respectively.


Systems for success

Advisers need to turn to technology to build a sustainable way of business

Julie Hedge

Christie Scott’s director set up her business 10 years ago and has thrived by focusing on investment and building relationships with clients who get individual attention for their portfolios. Interview by Helen Pow

Stirring the VAT

Guy Anker looks at the confusion over VAT on retention proc fees


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm