The Bank of England has today (August 4) announced a 0.5 per cent rise in interest rates in the UK, with the current rate now standing at 1.75 per cent - the biggest rise since 1995.
The Bank of England has today announced a 0.5 per cent rise in interest rates in the UK, with the current rate now standing at 1.75 per cent - the biggest rise since 1995.
"Homeowners whose mortgages are directly linked to the bank rate may see an increase in monthly repayments," explained Brian Murphy, head of lending at Mortgage Advice Bureau. Any change in interest rates can impact the property market and therefore what mortgage deals are on offer, and for how long. "A mortgage broker can help you find the most suitable deal for your circumstances and factor in true costs," Brian said.
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