BOE keeps interest rates the same

The Bank of England decided to keep interest rates the same this week. Clearly, they are hoping that inflation will be reduced by the 3 rate rises we have already seen since August 2006 without having to raise them again, and put more pressure on borrower's and investors' finances.

However, don't be too surprised if there is another small rate rise this quarter.

There are still some excellent fixed rate deals about at the moment, which means now could be your last chance to add to your portfolio and fix a discounted rate at under 5%. Several lenders have fixed rates at under 5%. The best one we know of is the Portman Building Society, with a fixed rate of 3.99% for 2 years on 85% LTV.