Although there is still much speculation, and it is clear that even a small increase in interest rates could lead to many more households struggling with their debts, interest rates cannot stay at this long running all –time low of 0.5% for ever. To reassure the Bank of England’s governor Mark Carney has repeatedly emphasised that increases will be “gradual and limited”. But many believe the first changes are just around the corner and expected to be announced in the first half of next year. Again Mark Carney says the Bank of England has “no pre-set course” and that, “rates will go up only as far and fast as is consistent with price stability as part of a durable expansion with the maximum sustainable level of employment.”
Inevitably the debate as to when will go on and the policy makers will continue to monitor the data and signals indicated with each new release of economic data. But Enables experienced mortgage brokers of Bishop’s Stortford are sure a rise in interest rates will come and are happy to help you review your borrowing to try and help you be in the very best financial position you can be when the changes come.
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
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