• Mortgage Tree

What is happening with interest rates for 2017?


Prospective rate rises have been pushed into the distance by overwhelming uncertainty following the result of the EU referendum and the latest move by the Bank of England to cut the base rate.


In mid-October Mark Carney, governor of the Bank of England said formally that he was prepared to tolerate inflation exceeding the Bank’s target of 2 per cent, above which under normal circumstances a base rate rise might be anticipated.


In August inflation was 1.6 per cent, leaving comfortable room for rising prices before the question of raising the base rate arises.


But, as Marmite-gate highlighted, pressure on the pound is already feeding through into the cost of goods and experts have warned inflation is likely to rise over the coming months.

Given the risk to people’s job security however, the Bank is highly unlikely to reverse its August decision to cut the base rate to 0.25 per cent any time soon as a result.


Article by Simon Lambert & Sarah Davidson for ThisIsMoney.co.uk

Here's what our clients say...

“Mortgage Tree showed me how to improve my credit rating as I had a few issues with my credit previously. As a result of their excellent advice I have now secured a mortgage at a great interest rate. They also helped me sort out life & critical illness cover which offers great protection for myself and my family. Mortgage Tree offers a fantastic service and I recommend them wholeheartedly.”

Charlotte - Leeds

Home

Mortgage Calculator

Mortgage Tree - Mortgage Advisors York - Services & Standards

Mortgage Tree offers a nationwide mortgage broking service from our base near York, North Yorkshire. We specialise in mortgages and insurance. Whether you are a first time buyer or you are a buy to let investor with multiple properties, Mortgage Tree will ensure that you get the best products available.

We are a Whole Of Market broker which means that we will choose the best, most suitable mortgage for you from the hundreds available on the UK mortgage market. Our network also gets special discounted deals from lenders available only to our network.

We also provide insurance cover that will give you & your loved ones a blanket of protection that is so vital. We will endeavour to give you the best service that we can at all times.

Mortgage Tree is an appointed representative of Julian Harris Mortgages ltd which is authorised and regulated by the Financial Conduct Authority. Our FCA no. 304155

The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients. Full details of the FOS can be found on its website at www.financial-ombudsman.org.uk

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. BUY TO LET (PURE) AND COMMERCIAL MORTGAGES ARE NOT REGULATED BY THE FCA.

Legal 

Our Address...

Stay Connected...

© 2020 Mortgage Tree

Built by Elle Nelson Design

Mortgage Tree

Blake House

18 Blake St

York

YO1 8QG

01904 263012