Bank Bases Rates Drop To 4.5%
The Bank of England today announced a much needed reduction in interest rates to 4.5%.
Read our articles on this topic.
Related pages from our commercial financial services.
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Mortgages Going Down?
With todays 0.5% reduction in UK interest rates anyone with a mortgage will soon feel the benefit of lower monthly mortgage payments.
All sectors will feel the benefit including our customers with commercial mortgages, for those businesses on variable rates the lower monthly payments will filter through pretty quickly. Our view is that rates have much further to fall, some commentators are predicting base rates at 3% or less! Although we do not expect all todays or any further reduction to be passed on, much of it will and this can only be good news for commercial property owners & investors. Buy-To-Let investors will benefit immediately for new investments as new products filter through, but already mortgaged properties may need to wait for the expiry of any "lock-in" period before remortgaging at lower rates.
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Submitted by Finance Broker on Wed, 08/10/2008 - 17:03
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