Following the release of the UK inflationary figures on Wednesday, a number of lenders have increased their rates or withdrawn particular products completely!
Why’s this happening?
Inflation isn’t falling as quickly as was originally forecast, as a result the financial markets are forecasting that the Base Rate may go up to as high as 5.5%! This is a lot higher than what was predicted only a few short months ago
What can I do?
If your mortgage deal is due to expire in the next 6 months or your on a tracker/variable product, get in touch and we can assess what options you have and look to secure a new deal for you before interest rates increase further