Bank Rates Increased
The bank base rate has been increased to 5.75%.
The rise comes as no surprise following last months narrow victory for the moderates on the Monetary Policy Committee resulting in no increase to the rate.
It is widely anticipated that rates will rise to at least 6%
Jerome Thompson of Reef stated "the current rise means that homeowners will be paying an extra £16 a month for a typical variable rate £100,000 mortgage. It seems likely that there is more pain on the way and if homeowners are not already on a fixed rate mortgage they should consider changing to one. Most lenders have increased their fixed rates but a broker can often still find a competitive rate suitable to the borrowers circumstances."
www.you-can-remortgage.co.uk
The rise comes as no surprise following last months narrow victory for the moderates on the Monetary Policy Committee resulting in no increase to the rate.
It is widely anticipated that rates will rise to at least 6%
Jerome Thompson of Reef stated "the current rise means that homeowners will be paying an extra £16 a month for a typical variable rate £100,000 mortgage. It seems likely that there is more pain on the way and if homeowners are not already on a fixed rate mortgage they should consider changing to one. Most lenders have increased their fixed rates but a broker can often still find a competitive rate suitable to the borrowers circumstances."
www.you-can-remortgage.co.uk
Labels: mortgages
posted by Reef Financial Services at 02:47
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