Toni Smith, COO at PRIMIS and PTFS: “After months of speculation, the inevitable has finally happened – and only time will tell if this is the first of many increases to come or if – with Brexit on the horizon – the Bank of England may choose to reduce them once again.
“Brokers need to be engaging with clients to ensure they are prepared and financially able to adjust to the new rate implications. It is also the ideal time for brokers to speak with clients who are who are approaching the end of their fixed rate, or who have already reverted to their lender’s SVR, to ensure they have access to the most competitive deals still available.”
