Bank governor Mark Carney last week hinted that rates could rise early next year for the first time since July 2007 but vowed that the MPC ‘will not take risks with the recovery’. He insisted any increases will be ‘gradual’ and ‘limited’ – bolstering expectations that rates will not rise above 3 per cent before the end of the decade.
But it is important to remember many borrowers have got used to record low mortgage costs. Graham Beale, chief executive of lender Nationwide, last week warned ‘a whole generation of borrowers have never experienced increases in their monthly mortgage payments’. A sharp fall in inflation however, to a four-year low of 1.9 per cent in January, according to official figures released today, has eased pressure on the Bank to raise rates. Keeping your mortgage right for you is part of what Enable’s IFA’s are here to do.
Remember - Your home may be repossessed if you do not keep up repayments on your mortgage.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE
No comments:
Post a Comment