As the Bank of England has increased interest rates to 0.5%, second increase in the space of three months, we can no doubt expect mortgage lenders to review their lending rates for new mortgage applications.
It will be interesting to see what fixed-rate deals are available in a few weeks’ time and what effect this has on the housing market. It will also no doubt have an impact on current home owners particularly those that are due to remortgage soon.
If you are in the process of buying a residential or commercial property or acquiring a charge against an existing property and require legal advice or assistance, contact our friendly Commercial and Residential property teams on 01904 624903 and they will be happy to assist.
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