With the news that the Bank of England has held the base rate at 5.25%, many people are now questioning what that actually means. Is this a good or bad thing? What does it mean for people looking to borrow money? How will this influence the mortgage interest rates? So we were happy to sit down and have a chat with one of our mortgage partners, Bhaven Ondhia from 1st Financial Foundations, so we could get the answers to those burning questions we've all been thinking.
With the news that the Bank of England has held the base rate at 5.25%, many people are now questioning what that actually means.
Is this a good or bad thing?
What does it mean for people looking to borrow money?
Hot topics we spoke about:
❗Is the recent news around the base rate good or bad?
❗What the current base rate means for savers & investors?
❗How can interest rates be going down if the base rate is the same?
❗What do mortgage rates look like right now & what do we think they will they come down to?
❗When do we think the base rate will start to go down?
❗Should you fix your mortgage for 2 years or 5 years?
❗Is it still a good time to buy property?
❗Bhaven’s top piece of mortgage advice
For anyone who is looking at getting a mortgage or may be looking to remortgage their property in the next 6 months, this is a must-listen!
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