/ Author: SPF

Despite speculation earlier this year that this month would see the first rise of 2018, interest rates have been held at 0.5 per cent.

Citing the disruption to the economy caused by the ‘Beast from the East’ in March, the Bank of England cut it’s growth forecast for the year to 1.4%, down from the 1.8% made in February. The view is that this slowdown will be temporary, so an interest rate rise could be expected towards the end of this year.

However, this would be marginal, and though it may concern newer borrowers who have yet to experience an interest rate rise, it is certainly no cause for alarm. Responsible lending and stringent affordability checks have been watchwords of all good brokers and lenders so those with existing mortgages should remain comfortable with their repayments.

For those looking to get onto the property ladder the market is still incredibly competitive and we can offer a wide range of mortgages including some very attractive fixed rate options. If you have an existing mortgage and want to be sure it’s the best option now, and in the future, then please ask about our re-mortgage services.