On Thursday 2 August 2018 the Bank of England’s Monetary Policy Committee (MPC) raised interest rates by 0.25 from 0.50% to 0.75%.
It’s important to regularly review your mortgage, as it can often make sense to transfer to a new deal – or even a different lender. Your decision to transfer will of course depend on your individual circumstances, and the current rate you are paying.
If your lender plans to increase its Standard Variable Rate (SVR), or already has, moving onto a new mortgage deal could save you money.
If you need advice on mortgages, please do get in touch.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE