Just Mortgages comments on BoE MPC decision

18 September 2025

John Phillips, CEO of Just Mortgages and Spicerhaart, said:

“Even with the shock news on inflation yesterday, a hold on the base rate comes as no surprise. We know the central bank prefers its careful, gradual approach to monetary policy and with a cut last month, stubborn inflation and fierce headwinds at home and abroad, they are not likely to deviate just yet. Whether this leads instead to a November cut is still too early to call – while the economy is stagnating and needs an urgent boost, we just don’t know yet if inflation has peaked and what impact the upcoming Autumn Budget will have.

“This week’s news is more likely to deliver a correction, rather than a dramatic change in mortgage rates – with swap rates creeping up recently. The encouraging thing for us that in the main, buyers and sellers don’t seem to be holding off on their plans with good business levels across both estate agency and financial services. While the picture ahead is still unclear, brokers are continuing to deliver real value to clients in navigating the market today – exploring options, nurturing confidence and providing a five-star service.”