Bank of England interest rates rise to 4%: what it means for home movers

The Bank of England raised Bank Rate by 0.25 points to 4% on 5th November 2026. Mortgage rates may rise, but it doesn’t mean you have to pause your move. Here’s what it means if you’re buying, selling or already mid-move. 

The good news is that an interest rate rise doesn't mean the housing market suddenly stops. People still need to move, and there are still plenty of reasons why buying or selling a home might be right for you. 

If you're buying, you may want to take a little more time to consider your budget and mortgage options. If you're selling, you may be wondering whether there will still be buyers looking for a home like yours.  

But the answer is that every home mover's circumstances are different.  

Here's what Bank of England interest rates could mean for home movers and home buyers in the coming months.  

If you're buying a home, the main thing you may be thinking about is affordability. 

Higher borrowing costs could affect how much you feel comfortable spending, so it's important to understand what the change means for your circumstances. Your mortgage adviser or lender can help you understand how any change affects your borrowing. 

It's also worth remembering that mortgage rates don't automatically move by the same amount as Interest rates. They are influenced by a range of factors, and the impact will vary between mortgage products and individual circumstances. 

If you're already well prepared to buy, however, a rate rise doesn't necessarily change your plans. 

You may already have a mortgage agreement in principle, have your deposit ready or even have found the property you want to buy. If you've been planning your move for some time, you may be in a good position to continue even if other buyers become more cautious.