PRESS COVERAGE
Bank raises interest rate again as expected to 4.5%
'The never-ending story of interest rate rises continues today with the Bank of England's decision to set rates at 4.5%, resulting in yet another blow to borrowers' - Adrian Anderson's opening reaction to The Negotiator captured both the exhaustion of an industry that had navigated 12 consecutive rises and the genuine hardship being felt by borrowers. He warned that uncertainty over the rate peak was becoming a destabilising force in its own right, freezing buyer and seller decisions. His concern centred on the 1.4 million households whose fixed-rate deals were expiring that year facing the prospect of sharply higher payments with no clear end to the rate cycle in sight.
Extract Published - 11th May 2023
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Bank of England raises rates to 14-year high
'The cost-of-living crisis continues and 2023 will most likely see households face some of the most challenging conditions for living standards on record' - Adrian Anderson's assessment for The Negotiator as interest rates hit a 14-year high of 4% set a stark context for what the rate cycle meant in human terms. He highlighted the specific challenge facing the 1.8 million mortgage holders whose fixed-rate deals expired in 2023, observing that it was 'almost impossible to remember that the Bank of England base rate stood at just 0.1% in December 2021.' The distance between those two numbers told the story of what borrowers were navigating.
Extract Published - 2nd February 2023