Primis Brokers Expect Rate Hike, Demand for Advice on the Rise

Nearly six in ten Primis brokers (59%) expect the Bank of England to raise its base rate during the second half of this year.

In a series of surveys conducted at recent Primis events, some 14% of respondents thought an increase was 'very likely' this year, while 44% thought it 'likely'.

The majority of households are still struggling with high living costs, including bills, food, and energy.

Despite this pressure on household finances, demand for advice is expected to rise over the next six months, with 63% of brokers anticipating an increase, while 29% expect it to remain unchanged, and 9% foresee a decline.