The Monetary Policy Committee held the Bank of England's policy rate at 3.75% at its April meeting, with one dissenter voting for a 25 basis-point rise. CPI inflation rose to 3.3% from 3.0%, with the Committee flagging energy-price feed-through as a near-term risk.
The practical signal for buyers and remortgagers in the Huntingdonshire patch is that the rate corridor is effectively sitting still through May. Fixed-rate mortgage pricing has stabilised at the higher end of the range we saw earlier in the year. The MPC's minutes leave the door ajar for cuts later in 2026 if inflation eases, but they are not signalling an imminent move.
What it means for buyers in the patch.
If you're shopping for a mortgage right now, the spread between two-year and five-year fixed rates is narrower than it has been for two years. The decision worth taking seriously is whether you believe rates will be materially lower in 2027 (in which case the two-year buys you the option), or whether you'd sleep better with the five-year locked in. We can't answer that one for you, but the broker we recommend can model both against your specific deal.
What it means for sellers in the patch.
On the ground in Brampton, Huntingdon, Godmanchester, the Hemingfords and the wider patch, buyer interest is steady rather than rampant. We saw the spring window deliver respectable application volumes; sellers willing to price into the current market are still moving in reasonable time. Where pricing has been ambitious, properties are sitting. The April rate hold doesn't change that calculation.
What it means if you're remortgaging this summer.
For homeowners coming off a fixed rate this summer, the cliff-edge between your old rate and the current market is real, particularly for anyone whose product was struck in the sub-2% window of 2020 to 2021. The June MPC decision will set tone for the back half of the year; talk to a broker now, but don't lock in panic.
Watch this date
18 June 2026: next MPC decision
The Committee meets again on 18 June. A second hold would effectively confirm the rate corridor for the summer; a cut would re-open the cheaper end of the fixed-rate market.
Sources: Bank of England Monetary Policy Committee April 2026 decision summary; ONS Consumer Prices Index April 2026 release; Bank of England MPC dates 2026 schedule.