The future of interest rates

n recent weeks, UK interest rates have come under renewed focus. For over 10 years, interest rates have been at 0.5% or below. This is the longest period on record since rates have been that low and for that long a period.

Business and financial market speculators have suggested in recent years, rates will have to climb, yet the Bank of England (BoE) has always resisted. Now inflation has spiked, unemployment is continuing to fall and the UK is moving through the process of Brexit, interest rates have again been subject of debate and even the members of the Monetary Policy Committee (MPC) at the BoE have recently hinted at a rate rise.

Raising the rates will be good news for savers, but rather less so for those on tracker mortgages.

Should you fix your mortgage rate now?

The BoE has for several months strongly hinted at an increase in interest rates. With this warning in mind, now could be the time to consider fixing your mortgage rate. No one really knows when the rates will rise, but you can prepare for what is seen, to many professionals and commentators, of an inevitable rise and probably before the end of 2017.

There are some truly astounding mortgage deals for customers to consider as lenders also predict a rise.

The simplest route is to seek advice. We can guide on the best deals that are right for YOU. We are trusted as an objective advisor who can give you whole of market advice. We’ll discuss your eligibility and circumstances, and map a route that puts you at a competitive advantage.

For the best mortgages deals that suit you and your needs, call us today on 020 3126 4898 or email: info@hayesfinance.co.uk