Will fixed rate mortgages hit 7%?
This is just one of the questions which mortgage experts are asking just now. It’s been a particularly challenging year for Mortgage and Property advisers so far – with successive hikes in UK interest rates meaning increasingly higher mortgage rates. And all this is on top of the cost of living crisis which is wreaking such havoc for borrowers and renters alike.
The speed of lenders quickly changing their rates hasn’t helped either, and has been causing all sorts of problems for brokers and of course, for those consumers trying to buy a property with a mortgage or remortgaging an existing deal.
Whilst interest rates have taken a bit of a breather of late, expectations remain that UK base rates might still reach the heady heights of 6% later this year or early next – as the Bank of England continues to apply the brakes with their target of 2% inflation in mind. There’s still a long way to go.
As IFA Magazine readers will know, our editorial team at IFA Magazine run daily news updates on what’s going on in the Mortgage and Property Markets to keep advisers up to date with all the latest market movements.
In this digital magazine, we bring you just a small sample of some of the articles you can expect to find online. I hope you find them of use.
Of course, if you’ve not discovered this new online resource which is proving very popular for Mortgage experts, we’d love it if you’d check it out. You can find out all the latest by visiting https://ifamagazine.com/category/mortgage-and-property/
Alex Sullivan
Managing Partner,
Mortgage and Property Investment Magazine
