Martin lewis explaining what is likely to happen in relation to interest rates and Brexit
“Mortgage rates are related to interest rates” he explained
“The complicated things about interest rates under Brexit is that we dont know if it will be no deal or a deal”
“As markets dont like a no deal , this meansit will drop.As rates come down the pound will drop.
“If the pound drops the imports get more expensive, means inflation goes up, and interest rates go up”
“If we get a deal things are more likely to be smoother
“However he said “it is a long wayof saying i dont know”
“As we know we dont know, we need to look at the current situation,which is mortgages at an all time low.
“You wont save that much on waiting but there is a risk of them going up.
“If you are looking to get a mortgage now, rates are cheap now- it is a good time to get a mortgage
UK house prices picked up last month, rising at the fastest annual pace since November, the Halifax has said.
The lender says prices in the three months to July rose by 3.3% from a year earlier, with the average cost of a house hitting a record £230,280.
Prices in July rose a stronger-than-expected 1.4% from the month before.
Despite the rises, Halifax said housing activity remained “soft”. It also said it did not expect last week’s interest rate rise to have much impact.
The Halifax’s latest survey echoed that of rival Nationwide, which also reported a pick-up in the annual rate of price growth in July.
Nationwide said annual house price growth accelerated to 2.5% in July, with the cost of the average home rising to £217,010.
The Bank of England has raised the interest rate for only the second time in a decade.
The rate has risen by a quarter of a percentage point, from 0.5% to 0.75% – the highest level since March 2009.
While the decision means that the 3.5 million people with variable or tracker mortgages will pay more, the rise will be welcomed by savers.
Mark Carney, the Bank’s governor, said there would be further “gradual” and “limited” rate rises to come.
When was the last time you reviewed your mortgage . You may be paying far too much.
Interest rates are on the move and now is the time to look to fixing this before its too late
I can help.
I have saved clients thousands of pounds whilst providing them with stability and peace of mind from potential interest rate increases.
Get in touch now via contact to arrange I free chat to discuss further
Hundreds of thousands of homeowners could be at risk of losing their homes by ignoring how they will pay off their mortgage, a regulator has warned.
Just like to thank everyone for leaving their positive reviews on vouched for
see below for latest customer feedback