Mortgage News
 

EXPECTED INTEREST RISE FOR JULY

MPC (Monetary Policy Committee), responsible for setting the Bank of England Base Lending Rate is expected to decide on a rise of 0.25 by the end of this month’s meeting.

At the previous meeting, although rates were maintained, four out of nine  members called for an increase.

Raising rates from a 5.5 to 5.75, experts say, would not tone down the property inflation trend. What is evident however is the clear impact this raise would have on first time buyers that Gordon Brown, in previous statements, has promised to support.

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