Following yesterday's announcement by the Bank of England to increase Base Rate (BBR) to 0.50%, lots of homeowners are now paying more on their monthly mortgage payments. If you are on a rate that tracks the Bank of England Base Rate (BBR) or even a variable rate that is linked to a lenders Standard Variable Rate (SVR) then you may find that your monthly mortgage payments will rise.
It's not too late, you can still get in touch to discuss your mortgage requirements with us and take advantage of historically low interest rates. We can offer fixed rates from 2-40 years with some lenders, subject to criteria.
We can help with a full mortgage and protection review for you for free and let you know what options are available to you. We can then guide you through the process and take care of all the paperwork for you. You will only pay a broker fee to us upon completion of any new mortgage.
Industry experts and economists have been saying that they expect Bank of England Base Rate (BBR) to potentially reach 1.25% by the end of 2022*. This means that it is more important than ever to check what you are paying and look to see if you can save.
At the same time as locking into a new fixed rate, to protect you from future rate rises, you could also look to raise some capital to complete those long overdue home improvements you have been putting off or go on that luxury holiday now that you are able!
Feel free to get in touch with an expert adviser today to see if we can help you.
*Source - Bloomberg
