Slight relief as the base rate is held at 5.5%..however more rises this year expected

Relief all around as the Monetary Policy Committee held the base rate at 5.5%. However this relief is still short lived, the UK is still suffering from high levels of inflation, which are way off Target 2.0 levels, the UK still has a runaway housing market which, although is suffering in the wake of the HIP’s chaos is still going up. So this relief is most likely temporary and it is expected that there may be a further couple of rate rises before the end of the year.

This is good news for Florida property if you are considering a sterling mortgage. Which is still very attractive with the exchange rate as it is! Our range of Sterling Mortgages from BMA track the Bank of England base rate. There are currently three fixed rate products available from BMA so now really is the time to get one to future proof your mortgage against the possible rate rises on the horizon. Contact Us today.

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