Hi Ringo1950. Welcome to the forum.

I'm not a doctor, just another prostate cancer patient. 

For someone of your age, the NHS suggests that your PSA should be no higher than 3, so yours is double that recommendation. NHS web page.

You didn't say if the consultant felt the prostate using the dreaded finger up the bum test, and if the prostate felt smooth or lumpy. I'll assume that test took place because I know from personal experience that a finger up the bum is just the way a urologist says "Good morning!"

I can only tell you what I think I would do if I were in your shoes. If the result of the digital rectal examination was normal, then I think I would not want to have a biopsy until the MRI result is back.  If the MRI is also normal, then I'd retest the PSA in three months time and see whether it's risen a second time or gone back down.  Depending on that result, I'd decide then whether I wanted to have a biopsy.