In light of recent news about inflation running higher, there is a strong chance that an interest rate hike is on the cards. It would be the first Bank of England rise in the base rate for a decade and economists are predicting a rise as early as November this year. If a rise in the Bank of England’s base rate should occur, then it will see lots of homeowners with a mortgage face a rise in their monthly repayments. Anyone who is on a variable rate or a tracker rate mortgage will see the increase whereas ...
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Throughout the second quarter of the current year, mortgage lending was seen to increase throughout the UK. Much of the trend appears to come from the increase in the amount of mortgage approvals in London as well as a big jump in the amount of First Time Buyers in Scotland. It’s considered a very positive sign that there was an increase in both remortgages and First Time Buyers throughout the country. The strongest increase was seen in Wales, where the region had its strongest second quarter since 2007. Overall, First Time Buyers borrowed £11 billion, an increase ...
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