Taking an interest: When will UK interest rates rise? How much will they go up by? What does it mean for my mortgage?

19/02/2018

An interest rate raise in May seems almost certain after the Bank of England said last week that it would need to raise rates to tackle high inflation. So what will this mean for your finances?

 

Households have been warned to expect further interest rate rises this year, suggesting that the historically cheap mortgages homeowners have enjoyed for almost a decade may finally be on their way out.

 

But what does this really mean for your finances? Should existing homeowners expect their monthly payments to soar? And should first-time buyers rush to get on the ladder to snap up a deal while they can? 

 

Read more at:

 

https://www.homesandproperty.co.uk/mortgages/when-will-uk-interest-rates-rise-how-much-will-they-go-up-by-what-does-it-mean-for-my-mortgage-a117821.html

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