philipmould
06-11-2007, 12:17 AM
Over the past year mortgage holders on variable rate mortgages have really felt the pinch, with no fewer than four interest rate rises being enforced by the Bank of England since August of last year.
TheBank of England, in a bid to try and bring inflation under control, has raised the base rate by 0.25 percent four times, which was in August 2006, November 2006, January 2007, and the final one in May 2007. Many economists predict that the summer will see another interest rate rise, which will put further financial strain on mortgage payers in variable rates.
Lenders have also increased their fixed rates in order to reflect the new interest rate, so those hoping to avoid the pinch of further rate of personal loans (http://www.ask4loan.co.uk).
TheBank of England, in a bid to try and bring inflation under control, has raised the base rate by 0.25 percent four times, which was in August 2006, November 2006, January 2007, and the final one in May 2007. Many economists predict that the summer will see another interest rate rise, which will put further financial strain on mortgage payers in variable rates.
Lenders have also increased their fixed rates in order to reflect the new interest rate, so those hoping to avoid the pinch of further rate of personal loans (http://www.ask4loan.co.uk).