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Base rate remains at 0.5%

Base rate remains at 0.5%

On 14th July 2016 the Bank of England confirmed that base rate will remain at 0.5%. This means it’s still a great time to review your current mortgage – customers could still secure a cheaper mortgage.

We have already seen lenders such as HSBC and Coventry Building Society drop some of their fixed rates.

David Blake at Which? Mortgage Advisers said:

“The Bank of England has kept the Base Rate at 0.5%, This is still good news for existing and potential mortgage borrowers.

For those who already have a mortgage I would urge you to review the rate of interest you are paying, even if you have an early repayment charge as it could very well make financial sense to remortgage.”

If you want to know more about your mortgage options give our experts a call and they can advise you on the best option for your circumstances.

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