BREAKING NEWS: Bank of England raises interest rate for first time in ten years

The Bank of England has raised the interest rate for the first time in over a decade.

As anticipated, the interest rate has been increased from 0.25% to 0.5%, representing the first rise since 2007.

Whilst the rise could mean that over four million homes could face an increase in their mortgage interest payments, research suggests that first-time buyers are not deterred by this.

However, the rise is likely to be welcomed by savers, who may see a slight increase in returns.

Further details on this are to follow.

Today's Conveyancer