By Sarah Thompson, Managing Director, Mortgage Scout
The last year has been challenging for borrowers. Mortgage interest rates spiked last autumn following Liz Truss’s disastrous mini-budget, and after a brief dip in the early part of this year, we saw average fixed rates reach more than five times what they’d been just two years earlier.
National Association of Property Buyers urges Bank of England not to hike interest rates “In light of rising energy costs and indeed everything else as we approach winter, we hope interest rates are not increased.” *National Association Of Property Buyers issues SOS to the Bank of England. **They fear interest rate rises may push those ‘just about managing’ over the edge.
Property industry reacts to fifth consecutive rates increase
The Bank of England has made the decision to increase interest rates for the fifth consecutive time.
Michael Bruce, CEO and Founder of Boomin, says:
“A fifth consecutive interest rate increase will come as a real concern for many homebuyers. Having seen house prices spiral over the last two years, they are now...
