More rate rises could put mortgage costs in focus
By Kerfuffle Editorial ·
Bank of England chief economist Huw Pill says rates may rise next month and again in early 2027, as around 2.3 million homeowners face refinancing next year.
Mortgage costs could be back on the agenda for plenty of your clients. Bank of England chief economist Huw Pill says the Bank may raise interest rates next month and again in early 2027 to tackle rising inflation.
The Bank moved rates from 3.75% to 4% earlier this month. Around 2.3 million homeowners are expected to refinance their loans next year, so the timing may matter for buyers and sellers weighing up their next move.
So what for your branch? Keep refinancing and affordability conversations on your radar, and make sure your team is ready to discuss how changing rates could affect clients’ plans.
Read the full story at Guardian property.