Rose Capital Partners comment on Bank of England interest rates announcement

With the news that the Bank of England has held interest rates at 0.75%, and comments by Mark Carney that rates could rise after Brexit, mortgage broker Rose Capital Partners comments.

Richard Campo, Managing Director, said: 

“Uncertainty over the political and economic outlook appears to be undermining confidence in the housing market. But the Bank of England is steering a steady ship in choppy waters, and today’s announcement should give some comfort to potential homebuyers.

“House prices are at the lowest they have been for a long time and since the start of the year a number of lenders have cut their rates in an increasingly competitive market.

“Once Brexit is complete, interest rates could go up. So prospective homebuyers sitting on their hands waiting to see how things play out, may be at risk of missing the boat. People should avoid the political hype and read between the lines, with low interest rates, low house prices and a competitive mortgage market, now is a great opportunity to snap up a bargain.”

Kindly shared by Rose Capital Partners