An interesting article has just come out from Hargreaves Lansdown about rate rises predicted in 2019.
The article is based around savings and therefore is happy with the expected rate rise. But if Sarah Coles is correct in her predictions, it will have an effect on mortgage rates either this year or next.
Suggesting a 0.25% rise in the Summer, Sarah is quick (and right) to add a caveat: “The uncertainty surrounding Brexit, and the associated political turmoil, means anything could happen.”
Yes, the dreaded B-word. It’s been a full decade since rates hit 1%. You can see from the historic Bank of England interest rates here. Yet after two rate rises in 18 months, we could well see a rate of 1% again soon.
Using a mortgage broker
The truth is that nobody can say for certain what the future holds, even with rate rises predicted in 2019.
However, one of the benefits of speaking to a mortgage broker is that they will discuss the options available. They will also give you advice and recommendation based on your circumstances.
Yet more proof that homeowners should be checking their mortgages – Are you sure you’re on the best rate?
Original article: https://www.hl.co.uk/features/cash-in-2019#tab2