Archive: The Bank of England may raise interest rates in 2017
According to one of the UK’s leading fund managers, Richard Buxton, the Bank of England may be forced to raise interest rates in 2017. The markets currently forecast that there is a high probability that the Federal Reserve will increase interest rates in the US. And, Richard Buxton claims that the Bank of England will have to react by raising interest rates here in the UK.
This was reported on the Mortgage Solutions website in December 2016*.
What this means for home buyers and home owners
Adam Nanson from Your Mortgage Expert comments:
“In the UK, we have been enjoying low interest rates for some time. This has meant that home owners have been saving money on the amount they pay for their mortgages if they have snapped up one of the low deals available.
“However, if the Bank of England does put up interest rates, then this could be set to change. And, we could see mortgage rates start to go up for the first time in long time.”
How Your Mortgage Expert can help
Adam Nanson continues:
“There’s no need for people to panic as even Richard Buxton admits that, if the interest rates do go up, it won’t be by much*. Having said that, if people do want to take advantage of the current low interest rates and secure a mortgage or switch lenders to get a new rate, it could be a savvy decision to do it now rather than waiting.
“At Your Mortgage Expert, we will search all the mortgage deals available on the market from a wide variety of lenders. This takes the hassle away from you having to search yourself, plus, many of the deals we have access to are only available through mortgage brokers like us.
“If you are thinking about purchasing a property in the New Year, or switching your current mortgage lender get in touch with Your Mortgage Expert today to find out what you can afford and to see if we can save you money. We do not charge for initial consultation, so by talking with us, you are under no obligation to proceed. “
For further information about Your Mortgage Expert, visit the website at www.your-mortgage-expert.co.uk and visit the About us page. Or call us on 01722 322683.
The information contained within this article was correct at the time of publication. It is intended for information only and does not constitute advice. TenetLime cannot be held responsible for information that was correct at the time of publication but subsequently changes or goes out of date due to changes in legislation. For further information, contact Your Mortgage Expert on 01722 322683.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
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