With a rise in the base rates unlikely, now is the time to grab a deal
There was good news for borrowers this week after market analysts predicted that mortgage interest rates would remain at rock-bottom.
Ray Boulger of John Charcol, a mortgage broker, says there are no signs that the Bank of England base rate will go up from 0.75 per cent before the end of the year. Because this feeds into mortgage rates he feels there is little chance they will go up.
“In fact, it’s the other way round,” he says. “We have seen more cuts than increases recently. This is down to the increased competition.