Legal & General Mortgage Club comments on Bank of England interest rate rise

Clare Beardmore, Director of Legal & General Mortgage Club, comments on the Bank of England interest rate rise of 4%.

“Today’s decision by the Bank of England to raise the base rate by 0.5% reinforces the need for good advice in this market, not just for new buyers, but also for those nearing the end of their fixed-rate period.  

“Speaking with an expert can help borrowers see past the headlines and get a better grasp of the options available to them.  

“With 57% of fixed-rate deals also coming up for renewal this year, these existing homeowners can gain from professional support which advisers are there to provide.

“The majority of homeowners will have seen the value of their home increase since the last time they took out a mortgage, and this new value could help them unlock lower loan to value (LTV) ratio products, potentially with better rates.”

Kindly shared by Legal & General Mortgage Club

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