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Interest Rate Rise and the Property Market

The Bank of England has raised the interest rate for the first time since 2007. The rate has risen from 0.25% to 0.5%.

 

Recent research has indicated that the anticipated rise in the interest rate will have minimal impact on the property market with little deterrent to first time buyers.

 

The change will not impact borrowers with fixed rate mortgages but will have a modest impact on those who are on variable rates

 
At mosshaselhurst Solicitors we are award winning property specialists and will assist you with the legal process of buying, selling or remortgaging your property. Please contact us at reception@mosshaselhurst.co.uk or telephone the office on 01606 74301 for assistance.