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Interest rate will not exceed 5.75%

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  • Interest rate will not exceed 5.75%

    According to mortgage advisor John Charcol, the recent decision to retain the base rate at 5.75% was not a shock, however, the company claims it is waiting in anticipation for the minutes from the committee on October 18 to gain a better insight in to the Bank’s ideas on the matter. A spokesperson for John Charcol [...]

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  • #2
    It's interesting to see the situation at present with Northern Rock and the credit crunch that's occurring - so far as the Bank of England appears to be making out, the mortgage lenders have upped their rates internally on the financial markets, so there's little prospect of further interest rates in the near term, despite earlier predictions of them rising to 6% before the year's end.