Carney considers base rate cut

News at Eden Harper | 16/02/2015


The Bank of England's base rate could fall below its historic low figure of 0.5%, governor Mark Carney has hinted.

It was widely believed that interest rates would go up rather than down, but Carney's latest announcement means that those taking out mortgages and other borrowers may get even better deals if the recovery keeps faltering.  

The global economic recovery is looking increasingly fragile, with oil prices collapsing and fears that Britain may into a damaging "deflationary spiral", meaning that wages and prices could fall and people may stop spending if they were to believe goods and products would be cheaper in the future.

This may be good news for those looking to get a mortgage or remortgage. However, it's important to remember that the fees you may pay may mean that even in the long-term remortgaging may not be worth the initial cost; even if rates are low.

For more information click on the link below:

The Mirror

Our offices are now open from 10.00am - 6.00pm Monday - Thursday and until 5.00pm on Fridays. Saturdays normal hours are in operation 10.00am - 3.00pm. All visitors are requested to wear face masks and observe social distancing measures. Viewings are by appointment only and may be subject to screening questions. Our Property Management department are still part working from home, but will respond promptly by email and are contactable by phone. We ask all our clients and customers to observe safe practices due to the Covid 19 pandemic, to help protect both themselves and our staff.
Covid 19 Information Hide