The Bank of England has raised interest rates for the first time in three years, increasing the base rate from 3.75% to 4%.
It’s a headline that’s likely to catch the attention of anyone thinking about buying, selling or remortgaging.
But here’s the question worth asking. Does an interest rate rise really mean you should put your property plans on hold?
Not necessarily. And here’s why.
What Does This Mean if You’re Buying?
When interest rates rise, borrowing can become more expensive. That could mean higher monthly mortgage repayments and potentially a change in how much buyers can afford.
But there’s something worth remembering.
Mortgage lenders don’t always increase their rates just because the Bank of England has. Fixed mortgage rates are also influenced by what lenders expect to happen in the months ahead.
Before ruling out a property, it’s worth speaking to a mortgage adviser and understanding what you can comfortably afford.
Already Have a Mortgage?
If you’re on a fixed-rate mortgage, your agreed repayments won’t change immediately.
However, if you’re approaching the end of your deal, now could be a sensible time to explore your options.
Those on tracker mortgages linked to the base rate are likely to see an increase in their repayments.
The important thing is understanding how the change affects your own circumstances.
What About Selling Your Home?
It’s easy to assume that rising interest rates mean fewer people will want to buy.
But people don’t move home simply because interest rates are favourable.
They move because their family is growing, they’re relocating, downsizing or their circumstances have changed.
And those reasons don’t disappear overnight.
What can change is a buyer’s budget. That’s why sensible pricing, good presentation and reaching the right buyers matter.
So, Is Now a Good Time to Move?
There’s no single answer to that question.
The Bank’s next decision is expected in December, and while another increase is possible, nothing is guaranteed.
At Campbells, we’d always encourage people to look beyond the headlines and consider their own circumstances.
The property market doesn’t stop because interest rates change. But understanding those changes can help you make better decisions.
If you’re thinking about moving in Daventry, Rugby, Northampton, Towcester or the surrounding villages, we’re always happy to have a conversation about what’s happening locally and what it might mean for your plans.
No pressure. Just a sensible place to start.
Sources: Bank of England, 5 November 2026; Property Industry Eye, 5 November 2026.
