Mortgage market could have surprise revival
The mortgage market could be on the brink of a surprise revival amid speculation of a fall in interest rates before Christmas.
Experts at Independent Financial Advisers (IFAs) John Charcoal have indicated that a potential December cut in rates cannot be ruled out.
Rumours of a cut in rates by the Bank of England will no doubt provide many consumers with a bit of much-needed Christmas cheer in the mortgage market.
Drew Wotherspoon of John Charcol said: "There have been renewed calls for an immediate cut in interest rates over the last few days, providing borrowers with a much-needed boost before Christmas.
"What does appear to be clear now is the only way for interest rates now is down, which is always a welcome message in the majority of UK households."
She added that the minutes of this month's meeting would be "key to identifying the chances".
"If the vote was tight then there is clearly every chance that they may fall in December, but if it was still 8-1 in favour of a hold then I suspect that will filter through to December," she explained.
Experts at Independent Financial Advisers (IFAs) John Charcoal have indicated that a potential December cut in rates cannot be ruled out.
Rumours of a cut in rates by the Bank of England will no doubt provide many consumers with a bit of much-needed Christmas cheer in the mortgage market.
Drew Wotherspoon of John Charcol said: "There have been renewed calls for an immediate cut in interest rates over the last few days, providing borrowers with a much-needed boost before Christmas.
"What does appear to be clear now is the only way for interest rates now is down, which is always a welcome message in the majority of UK households."
She added that the minutes of this month's meeting would be "key to identifying the chances".
"If the vote was tight then there is clearly every chance that they may fall in December, but if it was still 8-1 in favour of a hold then I suspect that will filter through to December," she explained.
