The 30-second version
- Bank Rate rose by 0.25 points to 4%, the first rise since 2023. The vote was 8–1, with one member voting for 4.25%.
- Inflation was 3.5% in September and the Bank expects it to reach around 5% by mid-2027.
- The Bank says policy is not on a pre-set path. The next decision is on 17 December 2026.
- Trackers usually move straight away; fixed rates don't change until the fix ends.
- Average fixes were already close to 6% before the decision (Moneyfacts).
The numbers to watch
| Measure | Latest |
|---|---|
| Bank Rate | 4.00% |
| CPI inflation (September) | 3.5% |
| Average 2-year fix (Moneyfacts) | 5.97% |
| Average 5-year fix (Moneyfacts) | 6.00% |
| Average standard variable rate | 7.13% |
Moneyfacts figures are averages across all residential mortgages at the start of November. Buy-to-let rates vary by lender and loan size.
What it means for landlords
- Tracker and variable rates usually rise straight away.
- Fixed rates are unaffected until the fix ends, but new fixes are priced on market expectations.
- Borrowing limits: lenders test rent against mortgage payments at a stressed rate, so higher rates can reduce what you can borrow on a remortgage.
- Tax: from 6 April 2027 property income tax is due to rise to 24%, 44% and 49%, with mortgage interest relief expected at 24%.
Key dates
5 Nov 2026
Bank Rate raised to 4%.
Confirmed18 Nov 2026
Next ONS inflation and rent figures.
Confirmed17 Dec 2026
Next Bank Rate decision.
Confirmed6 Apr 2027
Property income tax rates rise to 24%, 44% and 49%.
AnnouncedWhat to do now
- List every mortgage with its rate type and end date.
- Start early on anything ending in the next six months: many lenders let you secure a rate in advance.
- Re-run each property at today's rates and the April 2027 tax rates together.
- Speak to a whole-of-market mortgage broker before your fix ends.
How Morgan Prescott handles this
We keep rent collection steady and voids short on the properties we manage, which is what keeps the numbers working when borrowing costs move.
Guaranteed rent →Questions landlords ask
Does the rise affect my fixed-rate mortgage?
Not until the fixed period ends. Then you'll move to your lender's variable rate unless you arrange a new deal.
Will rates keep rising?
The Bank says policy is not on a pre-set path. Members differed on whether more rises are needed.
When is the next decision?
17 December 2026.
Sources, checked 7 November 2026
- Bank of England: Monetary Policy Summary and minutes, November 2026
- ONS: Consumer price inflation
- Moneyfacts: Mortgage news
Next update: We'll update this briefing after the Bank Rate decision on 17 December 2026.
General information, not financial advice. Rules and figures change, so check GOV.UK or a qualified adviser before acting.