recap for you, the bank of england has raised rates from 5% up to 5.25%. the last time rates were at 5.25%. the last time rates were at 5.25% was april 2008. to help us talk through some of what s going on, i have got a panel with me to answer some of your questions. susie laws is with me, a chartered financial planner and also a property expert and co founder of the digital platform bricks with tips. great to have you both. we also bejoined by what tips. great to have you both. we also be joined by what correspondent david who will talk us through some of the extra tips that you can use to save money in this time. right, so why don t we get started? we ve got lots of questions from our viewers. we ll begin with paul
morocco have scored and taken a lead. it still means that colombia go through but morocco have a chance now as well. that s it for now. we are nowjust minutes away from the bank of england interest rates decision which we will bring you live here on bbc news. this is the scene live in the city of london. the bank is widely expected to raise interest rates from 5% to 5.25%. the last time rates were that high was in april 2008. 0ur economic editor, faisal islam, is standing by to bring us the decision with my colleague lucy hocking in bbc news now. you can also follow the decision and reaction on the bbc news website and app.
of england s base rate to 5.25%, the highest since april 2008. for someone with an average tracker mortgage of £200,000, that would mean a rise of more than £23 a month. and for around 800,000 homeowners due to renegotiate their fixed deal in the second half of this year, it could mean an even bigger increase in their monthly repayments. whites, good afternoon. but at this estate agent in salisbury they say there are still more people wanting houses than there are properties available. a supply and demand issue that tony believes will prevent house prices from plummeting even as mortgage costs go up. our sales figures are pretty much the same as they were through the pandemic. what s changed is the price levels. so our higher end is definitely quieter, but our lower end is busier. you wouldn t think first time buyers were on the scene, but they are. and i think that s due to the high rents. rents are climbing very,
for father of two peter, sorting out the family finances is proving hard. he and his wife bought their first home using the help to buy scheme. but when their mortgage comes up for renewal early next year, they ll have to find an extra £750 a month in repayments. somehow we re supposed to spend less and find £750 extra a month to pay for that. so, you know, for many families, it s a terrifying situation. if you have young families like ourselves who have been swayed into the housing market by government, whose advertised help to buy as an affordable scheme, right, when things become unaffordable, you can t simply turn around and say, that s your problem. a rise of 0.25 percentage points would take the bank of england s base rate to 5.25%, the highest since april 2008. for someone with an average tracker
by government, who s advertised help to buy as an affordable scheme, right, when things become unaffordable, you can t simply turn around and say, that s your problem. a rise of 0.25 percentage points would take the bank of england s base rate to 5.25%, the highest since april 2008. for someone with an average tracker mortgage of £200,000, that would mean a rise of more than £23 a month. and for around 800,000 homeowners due to renegotiate their fixed deal in the second half of this year, it could mean an even bigger increase in their monthly repayments. whites, good afternoon. but at this estate agent in salisbury they say there are still more people wanting houses than there are properties available. a supply and demand issue that tony believes will prevent house prices