Quite simply they are doing this because of inflation and the rate of Price Increases and the International Comparisons are clear, although inflation is falling, in the uk it is not falling by as much or down to as low a level as it is elsewhere in europe in the us, and the us, and the bank has been talking up food prices and the amount we pay for services and the speed that wholesale, lower wholesale prices are being passed through the supply chain to us. The bank talked about crystallising risks, essentially the fear that when it comes to private sector wage growth, rings might be becoming embedded so they argued they needed to continue acting despite the impact it will have on households and businesses and we know the impact it will have on uk households and Mortgage Holders and also those ran singh. Also a warning from the bank also those renting. They said the rates will be high for a while, they are expecting inflation to meet the target of the Prime Minister, to half inflation t
voted to keep rights on hold. i m worried they will look back and find they have overdone it and there is quite a bit more pain to come through from the rate rises they have already done, especially in light of the fact that people s expectations of what will happen to inflation on the streets have not really got out of whack so it seems that people do not feel the bank has not lost control and that is the main thing the central bank is worried about. i think they could have been a bit more patient. thanks for “oininu have been a bit more patient. thanks forjoining us- live now to london where we can join richard donnell, executive director of property website zoopla. we talk about high mortgage rates in the uk and how they impact property owners and mortgage holders. the forgotten element of this is that there is a huge rental market in the uk and those people are also impacted by higher mortgage rates. explain why. that
there is a to pass it on, and i think. but there is a cost to pass it on, and i think. but there is a cost of to pass it on, and i think. but there is a cost of living crisis, so even landlords without a mortgage are feeling the pinch? timer;r even landlords without a mortgage are feeling the pinch? are feeling the pinch? they are. a landlord does are feeling the pinch? they are. a landlord does not are feeling the pinch? they are. a landlord does not want are feeling the pinch? they are. a landlord does not want a - are feeling the pinch? they are. a landlord does not want a void - landlord does not want a void period, they are not in the business of turfing tenants out as they need, but equally when they are under pressure, they need to increase rents, normally in line with the market, so we need to stop landlords leaving the rental market and we need to get more supply into the rental market because it is only by increasing supply that we can bring rental growth under co
licences. there has been a fierce arrest according to the latest reports. a fifth arrest. the campaigners were unfurling the oil black fabric on the house of the prime minister rishi sunak in the north yorkshire village where he owns this property. at the time of need that he or his family were present. at the time neither he. four arrests on suspicion of causing criminal damage and being a public nuisance and we now hear there has been a fifth arrest. more on that later in the programme. around the world and across the uk. this is bbc news. let s look at some other stories making news. homeware retailer wilko has
impacted by higher mortgage rates. exlain wh. . , impacted by higher mortgage rates. exniain why- explain why. that is right. 60% of landlords who explain why. that is right. 6096 of landlords who own explain why. that is right. 6096 of landlords who own property - explain why. that is right. 6096 of landlords who own property do i explain why. that is right. 6096 of l landlords who own property do have mortgages and around half of those have quite large mortgages, more than half of that, being more than half the value of the property, and when rates go up, when they come to finance, they are under the greatest pressure and their costs go up and then they are looking to pass on the high rental costs onto their renters and in the last few years renters have seen some steep increases in rent, and when we look at mortgage rates pushing up mortgage payments for the average person with a mortgage, renters have experienced a £3000 per year increase on average in the amount of rent they