Submitted on Thursday 09th February 2012
Bank base to go up tenfold?
Home owners and property landlords should prepare for interest rates of around 5 per cent Bank of England executive director of markets Paul Fisher recently warned in the Daily Telegraph and he said the committee would like to do this as soon as possible. Base has been held at 0.5% for 21 months. This is a clear nod to would be mortgagees that any fixed rate below 5.5% has obvious merit and that there is no point in depending on low interest rates to sustain cash flow. It is likely that if this happens that landlords will raise rents to compensate given that the first time buyer market is in the doldrums For advice on available rates please email danny@stirlingpartners.com or call 0207 580 1555
