Recently, there has been a lot of speculation over interest rates within the media and press. As BREXIT nears, the economic unknowns remain, which brings uncertainty. The uncertainty is the main driver why many economists are predicting rates will remain low however it is forecast by many that rates will rise by 0.25% to 0.50% over the next few years. What we know now is that the current Bank of England Rate is 0.50% – the mortgage product rates are extremely low although many banks have risen rates slightly over the past month or so.
So….with times and circumstances changing should you be reviewing your mortgage…?
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The continued low interest rates will be motivating not just for remortgaging but also for first-time buyers and home movers too because mortgage payments will be even more affordable whilst the rates are low. First time buyers also may not need to pay stamp duty after Philip Hammond’s announcement in the Autumn Statement last November.
If you have a friend, family member or colleague that could benefit from having a chat with us to discuss their personal situation, please recommend us! Don’t forget we will give you a £100* gift upon recommendations that go on to complete mortgage business with us.
Any questions on mortgages or your personal situation please get in touch – 01273 736536 or email
We look forward to speaking with you soon.
