Related topic: Bank Rate

Industry experts have cautioned that today's hold is 'not a signal that rate cuts are back on the table', instead not ruling out a base rate rise before the end of 2026.

The prospect of higher borrowing costs comes at a time when the majority of households are still struggling with the cost of living.

The Bank of England is expected to maintain its 'wait and see' approach at next week's meeting.

The UK economy is showing signs of resilience despite an uncertain geopolitical environment. 

New products include fee-assisted 70% LTV options and an expanded tracker range.

An extended hold to interest rates is "very much the correct and appropriately measured policy response", Taylor said.

The products provide existing customers with additional options to review their borrowing and raise funds against their portfolios.

A hold was widely predicted after UK CPI inflation held steady at 2.8% in May.

The surprise inflation figures "could trigger a mortgage price war", industry experts predict.

As a result, many expect the Bank of England to adopt a 'wait and see' approach to interest rates at its meeting next week.