The Right Mortgage & Protection Network comments on today’s BBR decision

30 April 2026

Ben Allen, Managing Director at The Right Mortgage & Protection Network:

“The MPC’s decision to hold BBR may be slightly surprising given the jump in inflation last week, but at the same time, members have clearly asked themselves what would be achieved by an increase at this point. The answer is perhaps very little, apart from heaping slightly more pressure on mortgage borrowers at a time when the cost of living is rising. The last decision to hold gave the Committee breathing space, and with that time now passed, it is clear they still see enough uncertainty to avoid moving too soon. A stable ‘wait and see’ approach always felt like the most likely outcome.

“For the mortgage market, Bank Rate of course is only part of the picture. Swap rates continue to drive many pricing decisions, and these have been far from stable. We have seen sharp movements which have made it hard for lenders to price products with confidence, although there has been some calm more recently, allowing some rates to edge down and products to return. That said, this stability may not last. The priority for advisers and borrowers is to secure suitable deals when they appear, particularly for those coming up to refinance, while keeping the option to move if pricing improves.”