November 6th, 2025
The Bank of England has announced today that it will hold the base rate at 4.00%, maintaining the level set in September.
This means there’s no immediate change to borrowing or savings rates, but it does reflect a cautious approach from the Bank as inflation remains above its 2% target.
For homeowners, buyers, and savers, this might seem like a moment of pause rather than progress – but it’s still an important update. Knowing where things stand now can help you plan ahead and make informed decisions if the situation changes in the months to come.
Keep reading to see what today’s announcement means for you and how it could affect your mortgage, home-buying plans, or savings.
For people with mortgages
If you’re on a tracker or variable-rate mortgage, your payments will stay the same for now – but you’ll have to keep an eye out for this year’s last base rate decision on 18th December, in case anything changes.
For those on fixed-rate deals, nothing will change immediately either – but the announcement will influence how lenders price new products in the weeks ahead.
In fact, lenders have already begun trimming fixed rates ahead of this announcement, driven largely by competition and improving market forecasts rather than base rate movements alone. As reported by FT Adviser, several high-street lenders have recently lowered rates in anticipation of today’s announcement. This could mean there are opportunities for borrowers coming to the end of their current deal, even without a cut from the Bank today.
If you’re considering a remortgage, a period of stability like this can be a good time to act. Locking in a competitive fixed rate now could protect you from any potential volatility later, while still benefiting from the gradual softening of mortgage pricing we’ve seen in recent weeks.
For those looking to buy
For prospective homeowners, today’s announcement signals continuity rather than change. With the base rate steady at 4%, borrowing costs remain relatively high compared to lower rates of previous years – but the wider trend in the market is encouraging. Some lenders are beginning to compete more actively for business, causing the gradual price drop we’ve seen in mortgage products in recent weeks.
If you’re thinking about buying soon, this could be a good moment to speak to a mortgage advisor. Knowing what’s available now can help you plan your next steps with confidence and stay ahead of future announcements.
For savers
While the decision to hold rates may be disappointing for savers hoping for better returns, it does provide some consistency. Banks are unlikely to raise savings rates further in the short term, but the current environment still offers stronger returns than we’ve seen in much of the past decade.
That said, with inflation still running above target, real returns remain limited. If you have money in easy-access accounts, it’s worth reviewing whether your provider is offering a competitive rate, or if switching to a fixed-term savings product could help you make more of your balance.
The bigger picture
Today’s decision suggests that the Bank of England is in wait-and-see mode. Policymakers are looking for clearer evidence that inflation is on a sustainable path back to target before making any significant moves. With the Autumn Budget just around the corner, and uncertainty still surrounding economic growth, maintaining stability for now is a deliberate and seemingly responsible choice.
Whether you’re managing a mortgage, preparing to buy, or reviewing your savings, now is a good time to run a health check on your finances and ensure you’re on the best possible footing for the months ahead.
Find out what today’s announcement means for you — book a call with a CMME mortgage advisor here.
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