Interest rates in the UK have risen again today for the 12th month in a row in a bid to slow the rising inflation.
This increase from the Bank of England has gone from 4.25% to 4.5%, this means that they are now the highest they’ve been since October 2008’s global financial crisis. Households with variable and tracker mortgages will struggle even more with this addition to their monthly bills. Those looking for loans will also see higher costs to borrow, yet this could benefit those with saving accounts.
If you have any questions regarding mortgages, speak to us for a free referral to Fingerprint Financial.
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