Thu 02 Nov 2017
For the first time in a decade the Bank of England is increasing the interest base rate.
Whilst this could mean an increase in the interest rate on mortgages, there is one provider cutting all their fixed and tracker rates to help keep costs down for buyers and home owners.
Following this morning's announcement from the Bank of England, Mortgage Advisor Richard Lester thinks that there is no reason for anyone buying or selling a house to panic.
"Fully expecting this announcement, Nationwide, the 2nd biggest mortgage lender in the UK, have cut all their fixed and tracker rates. This is in part designed to spread confidence, that things aren't going to suddenly spiral out of control. Nationwide's chief economist feels we may not see another change for a further six months after and it is just as likely to go back down as up again" says Richard.
Need further mortgage advice?John German Estate Agents can arrange for you to discuss your options with Richard and the team at Apt Financial Management;
- FREE independent morgtage advice
- Expert knowledge with 15 years' personal experience in the mortgage market
- Access to exclusive products not available on the high street
- Professional, friendly and local service
- Appointments can be carried out at your home or at John German offices
- Mortgage review and tracking services
- Independent advice on life and ill health insurance to protect your mortgage
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