Despite saving £50,000 since living and working in Berlin, Nick says he can barely afford a mortgageThe BBC hears from four people about how the latest decision by the Bank will affect them.Would-be first-time buyer Nick Andrew has saved an impressive £50,000 to put down on a property when he eventually buys a home. But he had to move to Germany to do so.
He is looking at repayments of up to £2,000 on a £350,000 property, even with his deposit. "It's most of my basic take-home salary. It's really hard to see how that's feasible," he says. "We thought we had enough to survive but our plans have been shot to hell by the effects of inflation," he says. "Savings don't keep pace with inflation and if you have kids, they're similarly impacted."
Aged 26 with a degree and living with their girlfriend who has a masters in nuclear engineering, guitar journalist Cillian Breathnach is "really, really worried" about what the future holds as far as owning a house is concerned.