Yesterday, the bank of England made the decision to freeze interest rates for the first time in a long while. Whilst this hasn’t made the current market any more affordable to home buyers or home owners it is a sign that better times may be coming. Hopefully this freeze means we’ve reached a peak and things will begin slowly becoming a little easier on the family purse!
What happens now?
Interest rates are being kept high and not cut as a precaution to slow down inflation, this seems to be happening Europe wide so it could be a case of them being lowered as early as next year. We will keep an eye on what our lenders are doing, already some are cutting their rates which is so helpful for our customers. Our advice is to keep moving forward with your plans, cautiously and if your monthly outgoings are becoming a problem then please do get in touch today to let us help you remortage or look at what savings can be made.