Give customers guidance as the BoE holds in the face of resurgent inflation, says Stonebridge CEO

18 September 2025

Rob Clifford, Chief Executive of mortgage and protection network Stonebridge, has commented on today’s Bank of England base rate decision:

“The Bank of England’s decision to hold rates today is proof of its increasingly cautious stance in the face of resurgent inflation. The spectre of 2022, when prices spiralled, still looms large for the Monetary Policy Committee – and it is clear it is determined not to repeat exposure to that risk, even though some regard it as remote.

“That means it could be some time before we see borrowing costs fall again. Markets now put the odds of a cut this year at just one in three, with the next quarter-point reduction not expected until spring 2026.

“That will disappoint some borrowers holding out for further cuts before switching deals. But conditions have improved significantly over the past 12 months to the great advantage of most borrowers. Mortgage rates are around 50 basis points lower than a year ago, thanks to cheaper funding and fierce lender competition. That means there are plenty of attractive options on offer to those who need to refinance before the end of the year.

“For advisers, today’s decision is another prompt to not only engage early with customers coming up to refinance but to reengage with those who may have opted to wait – after all, only 61% of eligible borrowers who could refinance in H1 did. They will all need clear guidance to weigh the different products on offer and secure the deal that best fits their circumstances.”