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UK interest rates rise to 5.25% - what it means for savings, mortgages and annuities

Today the Bank of England raised the interest rate to a 15 year high. Here’s what the 5.25% interest rate could mean for your savings, mortgages, and annuity rates.

Important information - This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

This article is more than 6 months old

It was correct at the time of publishing. Our views and any references to tax, investment, and pension rules may have changed since then.

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Written by
Helen-Morrissey
Helen Morrissey
Head of Retirement Analysis

Helen raises awareness of key retirement issues to help people build their resilience as they move towards their later life.

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Article history
Published: 3rd August 2023