Interest rates have been held at 0.5 per cent, despite some speculation earlier this year that May would see the first rate rise of 2018. The Monetary Policy Committee voted to hold interest rates, most likely in response to weak economic growth and a fall in inflation. It goes to show that there is no guarantee that rates are going anywhere. The economy remains in a fragile state and added to this are the ongoing Brexit negotiations.
Whatever happens in coming months, rates are likely to remain low for the foreseeable future. Lenders are reflecting this in their mortgage pricing – while some lenders recently repriced upwards on the back of higher Swap rates, deals still remain incredibly competitive as they are still keen to lend.
SPF has access to a range of competitive mortgage options. Click here to view some of our best buys. If you’re interested in finding out more about these rates and would like to chat through your mortgage requirements, please get in touch.