Bank of England interest rate decision - OSB Group comments

17 September 2026

Jon Hall, Group Chief Commercial Officer, OSB Group, comments on today’s Bank of England interest rate decision:

“The Bank of England’s decision to hold interest rates at 3.75% follows the European Central Bank’s move to raise its own rates last week. For the mortgage market, a hold offers a moment of stability, but borrowers should remain cautious about how long that hold will last.

Market expectations already point to a further rise as soon as November. That gap between today’s decision and where rates may be heading is exactly the kind of uncertainty that makes planning difficult for borrowers, particularly those weighing up when to fix.

For those coming to the end of fixed-rate deals, today’s hold does not change the fact that refinancing conditions remain considerably tougher than when many locked into their current rate. Affordability pressures are set to persist regardless of what the Bank decides today. In the buy to let market, landlords are still absorbing the cumulative impact of higher borrowing costs, and the prospect of further rate rises ahead means that pressure is unlikely to ease soon. Whatever direction the rates move next, the relationship borrowers and landlords build with brokers and specialist lenders who understand their circumstances will matter more than ever.”