Interest Rates, the results are in!

Interest rates increase

 

Interest Rates November 2017 The Results are in!

With Halloween already a distant memory is today’s announcement from the Bank of England’s November meeting going to be a trick or a treat for UK homeowners? After weeks of media speculation and hints from the Bank of England the results are finally in regarding the decision over the suggested hike in interest rates. Breaking the news at midday today the Bank of England have placed their votes and the decision has been made. The official bank rate has been lifted from 0.25% to 0.5%, the first increase since July 2007.  

Bank governor Mark Carney expects banks to pass on the rate rise to savers, but said many mortgages, loans and credit cards would not see an immediate impact.

The Bank estimates that almost two million mortgage holders have not experienced an interest rate rise since taking out a mortgage. Homeowners may be left wondering just how this decision will affect them.

No need to panic, Gloucester based Brunswick Home Loans are on hand to help, with our extensive wealth of knowledge and expertise we can assist in helping you find the best possible deal on your mortgage. Homeowners should always keep an open mind and shop about to ensure they are getting the most for their money. A mortgage is likely to be the single biggest outgoing a homeowner has so it is imperative you have the right product based upon your circumstances. Shopping around for your mortgage is so important, no different from looking at a better deal on your utilities or mobile phone. Our friendly and expert helpers are on hand to assist you with your mortgage questions and requirements.

The change in interest rates will firstly affect those on a tracker mortgage or standard variable rate mortgage as any rise in interest rates will result in an increase in your monthly outgoings. With Christmas looming you may well wish to consider your options regarding your mortgage and at Brunswick Home Loans we are confident we can find the best deal on a fixed rate mortgage over the longest period available to you.

Why not give yourself the best early Christmas present possible and give Brunswick Home Loans a call today and see if you can save yourself some of your hard-earned cash. Don’t hesitate to call us today and discuss your mortgage requirements on 01452 413300 or email service@brunswickhomesloans.co.uk