Most borrowers unlikely to be affected from rate increase

/ Aug 3, 2018 / No Comments / In Blog / By

Research by UK Finance shows that up to 95% of borrowers are unlikely to be affected by this weeks BoE rate rise, at least in the short term, because they opted for fixed-rate mortgage products.

Given that the cost of lending is rising for Banks, customers on a variable mortgage may suffer the brunt as lenders look at ways of boosting their margins.

If you are concerned about the impact of the rate rise on your mortgage or need advice, contact Plus Mortgages today. We don’t charge any fees.

Read the full article via Mortgage Strategy by clicking here.

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