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Government

Bank of England raises base rate, causing concern for luxury real estate owners

November 3, 2017

With the rising base rate, luxury real estate owners will be paying higher mortgages. Image credit: Knight Frank

 

By Danny Parisi

The Bank of England has raised the United Kingdom’s base interest rate for the first time in a decade, in an effort to combat spiraling inflation in the country in the wake of the Brexit vote.

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