Homeowners 'could become less troubled and more confident'
www.moneynews.co.uk > Mortgages > Homeowners 'could become less troubled and more confident'
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Homeowners 'could become less troubled and more confident'
Thu 9th Jun 2011
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Andy Pratt, chief operating officer at mortgage broker Alexander Hall, has reassured the public that a rise is unlikely in the short-term future.
People who worry about increasing mortgage payments could become less troubled if inflation falls naturally, he suggested.
Mr Pratt went on to state that the UK could end up in a similar situation as Japan, which had record low interest rates for a long period of time.
He added: "The reality has got to come through, but if that does happen, then I would have thought that we are very unlikely to see a rate change for quite a long time."
However, homeowners are likely to approach the news with caution after Lloyds TSB claimed that interest rates would increase several times over a short period of time, if history were to repeat itself.
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