This is a Financial Promotion from Active Mortgage: What does the increased interest rate mean for you?
Following much speculation, last week the Bank of England raised interest rates from 0.5% to 0.75%. The change comes following the first increase in over a decade, back in November last year.
So what does this mean for you?
These are the highest rates since 2009* and because of this, we’ve all become used to low-interest rates. This increase is likely to feel more noticeable and create extra strain on mortgage payments for some borrowers.
It’s important that you understand how this change, and any potential future increases, will affect your mortgage payments. To help avoid added pressure on your finances, you should seek advice as soon as possible.
How can you find out more?
To find out exactly how this change will affect you and your monthly mortgage payments, and whether it’s the right time to review your options, get in touch to book an appointment. You can reach us on 01245 850 165 or at email@example.com
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
This firm usually charges a fee for mortgage advice. The amount of the fee will depend upon your circumstances and will be discussed and agreed with you at the earliest opportunity.>
Active Mortgage is an appointed representative of PRIMIS Mortgage Network, a trading name of First Complete Ltd which is authorised and regulated by the Financial Conduct Authority.
*Source: Financial Times, published on 02 August 2018.