What next for interest rates and how bad will it get for mortgages?

The Bank of England held the base rate again on Thursday but mortgage rates have soared this week.Major lenders have made a wave of hikes and there are warnings that more are on the way, so what's going on?Is this just another temporary spike as the mortgage market throws one of the wobblies we've seen a number of times in recent years or serious bad news, with rates set to stick higher?On this week's podcast, Georgie Frost, Lee Boyce and Simon Lambert discuss interest rates, what this could cost people and what you can do if you need to remortgage.Plus, what does this all mean for gilts and the Budget and did the Bank of England quietly make a decision that could make things materially better?With more investors buying gilts direct, should you take advantage of the higher rates on offer and how do you invest in UK government bonds?Or should you choose a fixed rate savings account at 5.2 per cent instead.A This is Money reader question highlights the worst inheritance tax trap that lies at £2million.And finally, would you do a Rokos and move to Greece – and other than the weather what are the attractions?Helpful linksTo check the best mortgage rates you could apply for go to www.thisismoney.co.uk/mortgage-finderTo check the best savings rates go to www.thisismoney.co.uk/saveRead Joanne Hart's guide to investing in giltsTIME STAMPS00:00 Welcome to the podcast 00:52 Interest rates held – so why are mortgages getting more expensive? 03:30 Mortgage rates are rising again: how bad could it get? 06:22 From 0.99% to 4.88%: the remortgage shock facing borrowers 10:57 Savings rates are back above 5% – should you lock in? 18:05 Five-year fix or invest instead? 19:43 Gilts 101: what are government bonds and how do they work? 24:24 Why are gilt yields so high – and how do they compare with savings? 27:18 How do you actually buy gilts? 29:59 Inheritance tax: could a £2m estate lose the home allowance? 33:07 Pensions and inheritance tax: what changes from April 2027? 36:02 The inheritance tax trap that could produce eye-watering tax rates 39:48 Why are wealthy Britons moving to Greece? 41:59 Greece's tax breaks – and who can benefit 42:08 Thinking of moving to Greece? What you need to consider 47:20 Seven energy deals that could beat the price cap rise 48:04 That's all for this weekFollow us on Instagram @dmgnewmedia.Follow us on TikTok @dmgnewmediaFollow us on X @dmgnewmediaEmail us hello@dmgmedia.co.ukText us  020 7938 6000.Hosts: Georgie Frost, Simon Lambert, Lee Boyce, Helen CraneProducer: Georgie Frost Hosted on Acast. See acast.com/privacy for more information.