Alliance and Leicester comments on today's MPC decision to maintain base rate at 5.75%

Stephen Leonard, Director of Mortgages at Alliance and Leicester:

"Today's MPC decision to maintain rates at 5.75 per cent was widely expected".

"We are still seeing the effects of the previous rate rises filtering through to homeowners and the latest inflation figures are now back below the Government's 2 per cent target".

""The Monetary Policy Committee will undoubtedly have taken a range of factors into consideration when making its decision on this month's base rate announcement".

""For borrowers, today's rate decision will be a welcome relief".

"For borrowers needing financial security and the ability to budget for their outgoings, a fixed rate mortgage will prove invaluable".

"However, for borrowers who are financially flexible, tracker mortgages can still offer good value.".

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