|
"The Easy Way to Get Your Best UK Mortgage" |
|
| Helping
over 300,000 people a year find the right mortgage NINE YEARS ONLINE |
|
|
|
|
||||||
|
|
| UK Interest Rate: 5.25% UK Interest Rates Forecast: Increase in rates virtually certain in May Lenders Pulling Cheap Fixed Rate Mortgages Many of Britain's largest mortgage lenders have been withdrawing their fixed rate mortgages from sale and replacing them with more expensive mortgage policies, in expectation of an increase in the Bank of England's base rate next month. Lenders such as Alliance & Leicester, Halifax, Portman and Skipton have all withdrawn most of their fixed rate mortgages, with other lenders putting them on "withdrawal watch" – meaning that they could be withdrawn at just a few hours notice. The move comes as a result of the widespread expectation of a further interest rate rise in May, following continued rises to inflation. Interest Rate Rise Could Double Repossessions A rise in interest rates could lead to the number of home repossessions doubling, according to an independent report published by Business Strategies, the economic consulting arm of credit reference agency Experian. Two measures of financial stress were used to perform the research – the average write-off levels of unsecured debt, and the number of mortgage repossessions. These were combined with four different interest rate scenarios to determine the effect interest rate decisions will have on repossessions. In the most likely scenario, that of a 0.25 per cent rise in interest rates in May, write-offs of unsecured debt would reach 4.3 per cent – the highest level since 1992. Mortgage repossessions would rise to 42,700 – more than double the number in 2006. This research highlights just how tightly-stretched many households' finances are, and suggests that even if interest rates fall in 2008, repossessions may continue to rise for some time. |
Latest Interest Rates Forecast in the UK
Interest Rates Forecast to 10/10/06
Interest Rates Forecast to 20/10/06
Interest Rates Forecast to 27/10/06
Interest Rates Forecast to 7/11/06
Interest Rates Forecast to 22/11/06
Interest Rates Forecast to 27/11/06
Interest Rates Forecast to 3/12/06
Interest Rates Forecast to 10/12/06
Interest Rates Forecast to 17/12/06
Interest Rates Forecast to 22/12/06
Interest Rates Forecast to 29/12/06
Interest Rates Forecast to 5/1/07
Interest Rates Forecast to 12/1/07
Interest Rates Forecast to 19/1/07
Interest Rates Forecast to 26/1/07
Interest Rates Forecast to 2/2/07
Interest Rates Forecast to 9/2/07
Interest Rates Forecast to 16/2/07
Interest Rates Forecast to 23/2/07
Interest Rates Forecast to 2/3/07
Interest Rates Forecast to 9/3/07
Interest Rates Forecast to 16/3/07
Interest Rates Forecast to 23/3/07
Interest Rates Forecast to 30/3/07
Interest Rates Forecast to 6/4/07
Interest Rates Forecast to 13/4/07
Interest Rates Forecast to 20/4/07
Interest Rates Forecast to 27/4/07
Click here to go to the Home page and find out more information about UK Mortgages, UK Mortgage Quotes, UK Morgage Finance, Interest only mortgages (even with bad credit) or Home Insurance Policies Quote.
Browse over 200 Free Mortgage TipsYour Complete Guide to UK Mortgages Find Out How to Win the Race to Buy Your Home - Home Buyers Guide Learn How to Save ££s by Remortgaging Read the Insider Info on Home Insurance Site Help |