Mortgage Rates are going to be on the up (soon-ish)
Following the budget announcement last month and rumblings about interest rates going up to help deal with inflation, there have been a lot of horror story headlines about mortgage repayments going up to a 30 year high and other such nonsense.
Now we're definitely not saying that rates will sky rocket uncontrollably, but it is likely that they will increase in the coming months but by how much no one can really say.
For the majority of people who are on a fixed rate mortgage that's not going to really be a big deal (for the moment) but for those that are still languishing on their banks standard variable rate (SVR) you're already paying more than you need so it's only going to get worse when rates do go up.
If you're worried you could be over spending on your mortgage rate, get in touch and we will find you a better deal.
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Rising mortgage rates could cool the UK housing market, say analysts.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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