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Interest rates across the mortgage market are changing every day
On Thursday 16th June the Bank of England raised interest rates to 1.25%. That’s the highest the Bank of England base rate has been for 13 years, and has been raised from 1% to tackle the rising cost of living and inflation. People are already seeing bills rising, along with higher mortgage payments and rising interest on other debts. But there is a solution which means that you can manage your mortgage repayments. A fixed rate mortgage means that you make the same mortgage repayment
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Information about Fixed Rate Mortgages
Key Facts
- Mortgage repayments expected to rise as interest rates rise
- Fixed rate mortgages can help manage mortgage repayments
- Bank of England rate at 1.25%
- Cost of living rising
- Mortgage repayments on the rise with interest rates
- Base Rate expected to rise again from 1.25%
- Inflation expected to reach 11%
- Base rate at its highest for 13 years