The Bank of England has today announced that it will hold the Base Rate at 3.75%, keeping interest rates unchanged as it weighs fresh inflation risks against a weaker economic backdrop.
The decision was unanimous, with all nine members of the Monetary Policy Committee voting to maintain the current rate.
While many had hoped for another cut earlier in the year, the Bank said the recent rise in global energy prices, linked to conflict in the Middle East, is likely to push inflation higher in the near term.
The Bank stressed that it is monitoring the situation closely and will act as needed to keep inflation on track to return to its 2% target over the medium term. (1)
For the property market, this means a period of caution rather than a dramatic shift. The Base Rate has not gone up, which offers some stability, but borrowers and movers may need to adjust to the prospect that mortgage pricing could remain sensitive over the coming weeks.
For buyers, today’s decision brings a degree of certainty, even if it does not deliver the rate cut some were expecting.
Holding the Base Rate should help avoid a sudden shock to borrowing costs, but lenders are also watching inflation expectations and wholesale funding costs closely, so mortgage rates may not fall quickly in the short term.
That means preparation remains key. Buyers who are planning a purchase this spring should make sure they understand their borrowing position early and be ready to move when the right property becomes available.
In a market where confidence can return quickly, being organised can make a real difference.
If you are buying with a mortgage, speaking to an adviser at the outset can help you understand what is affordable and which products may suit your circumstances best.
For sellers, a hold is not bad news. Stability in the Base Rate can support confidence among buyers, particularly those who may have delayed moving while waiting for more clarity on interest rates.
Although today’s announcement is unlikely to trigger an immediate rush, it does remove some uncertainty from the market.
Well-priced, well-presented homes should continue to attract attention, especially where buyers have already secured an agreement in principle or are actively searching.
Sellers who are thinking about coming to market should focus on preparation now so they are ready to take advantage of motivated demand.
For those making an onward move, timing and organisation remain crucial. Getting a valuation, instructing early and preparing your property for launch can help put you in a stronger position if activity picks up.
With buying activity remaining strong in the North West, the spring market is likely to remain lively despite wider economic uncertainty both domestically and abroad. For those looking to move home during 2026, forward preparation is key.
If you are thinking of selling your home, an accurate property valuation and a solid marketing strategy are more important than ever. To find out more, book a free, zero-obligation property valuation today.
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For landlords, today’s decision suggests that borrowing costs may stay higher for longer than some had hoped. That could affect refinancing plans, portfolio returns and the appetite for new purchases, especially where margins are already tight.
At the same time, continued uncertainty can create an opportunity for investors who are ready to act decisively.
Some landlords may review underperforming properties or consider restructuring their portfolios, while others may look for opportunities created by changing market conditions.
As ever, the right strategy will depend on your funding position, your timescales and your long-term goals.
The key takeaway from today’s announcement is that the Bank of England is not yet ready to move rates lower again. Bank Rate remains at 3.75%, inflation is still above target at 3%, and policymakers have made clear that they are watching global developments very closely. The next Bank Rate decision is due on 30 April 2026. (2)
For buyers, sellers and landlords alike, this is a market that continues to reward preparation, realistic pricing and good advice. Whether you are planning your next move, exploring your mortgage options or reviewing an investment property, having the right support in place can help you act with confidence.
To find out how the latest Base Rate decision could affect your plans, get in touch with Edward Mellor today.
With over 40 years of proven experience in helping people to buy and sell property, our local property experts will guide you through every stage of your property journey.
Sources
1 – Bank Rate maintained at 3.75% – March 2026 Monetary Policy Summary and Minutes
2 – Interest rates and Bank Rate: our latest decision
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