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When will Bank of England put up interest rates?

The USA has put up the base rate will the bank of England have to do the same sooner? Also the swap rates between banks are on the rise some think that this is an indication that banks will increase interest rates even if the bank of England does nothing. The reason I ask is I have 2 mortgages which are due for renewal one of the mortgages has 4 sub parts only 2 of them parts I can change now the other 2 I can change March 2016 do I deal on 2 parts at 2.06% now or wait till March and do a deal on all 4 parts? Could I also ask about the new European law coming in April about banks having to be more strict on customers with existing mortgages how will that effect us if we are deemed to be a greater risk now? Would it be we go onto their standard rate?

Asked on Dec 22 2015, House Prices in Coventry | Report content

Answers (1)

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  • Hey Shan, It’s a gamble as nobody can say for sure. Inflation is low here though which reduces pressure to increase rates and the buy to let market is about to get clobbered tax wise which will decrease upward inflation so an increase looks less likely, but still possible. You should hope for the best…but plan for the worst! - Jeff

    Answered on Jan 4 2016, Report content

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