Act Now – Interest Rates Could Go Over 2%

Central banks are struggling to contain inflation with many expecting it to peak at more than 11% in October when the energy price cap is increased by Ofgem.
This energy rate increase is set to impact average household energy bills with forecasters reporting annual figures of around £3,200.

Inflation has been further fuelled by demand for goods and rising costs of fuel, the Bank of England has already raised rates five times in a row since December 2021 from the low of 0.1 per cent adopted during the pandemic to a 13-year high of 1.25 per cent. 

And according to a member of the Bank of England’s rate-setting Monetary Policy Committee. Interest rates could reach 2% or more in the next year. 

We have been vocal about the importance of reviewing your current mortgage, particularly if you are on a standard variable rate or have a fixed deal coming to an end within 6 months. We have access to lenders that allow you to lock in a deal six months before your deal ends, If your mortgage deal is expiring in the next six months, now is the ideal time to look at whether remortgaging and fixing your mortgage costs could save you money. 

If you would like to discuss options available to you, speak to a member of the team or our senior broker, Danny O’Keeffe on 0208 364 3444 alternatively schedule a call back by clicking on the button below.