No imminent danger of rate rise, says moneymagpie.com
www.moneynews.co.uk > Mortgages > No imminent danger of rate rise, says moneymagpie.com
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Money News |
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No imminent danger of rate rise, says moneymagpie.com
Mon 18th Apr 2011
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Jasmine Birtles, founder for the company, pointed out that such an increase would affect different customers in distinct ways.
She noted that people with fixed rate mortgages will not be impacted, while individuals on standard variable rate arrangements will probably see some change to their interest.
Ms Birtles added: "If you're on a tracker it's definitely going to go up, but I don't see interest rates going up until at least the summer, possibly towards the end of the year."
The finance and business expert highlighted how such a change may also affect people on capped rate deals to a limited extent.
Last week, Alexander Hall chief operating officer Andy Pratt called on lenders to alter the way they handle the loan-to-value figure on mortgages, suggesting five per cent groupings are too broad.
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