Product category:
Banking / credit / debt
News Release from: Alliance & Leicester | Subject: Banking
Edited by the Insidemoneytalk Editorial
Team on 11 June 2007
Alliance and Leicester comments on
today's MPC decision to maintain base
rate at 5.5%
Stephen Leonard, Director of Mortgages at Alliance and Leicester, said:
"It is no real surprise that the Bank of England is holding fire this month in order to monitor the impact of three base rate rises since November 2006 "While house prices are generally cooling, as is often the case they vary by region and judging the overall impact is complex
This article was originally published on Insidemoneytalk on 23 Feb 2007 at 8.00am (UK)
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"Housing and economic activity tends to fall off during the summer months, and with many commentators suggesting that any further rate rise may not occur until August, borrowers may be able to heave a sigh of relief, particularly if rates are now nearing their peak and begin to stabilise, or even fall within the next six months.
"Those that are potentially buying a property should carefully look at all their options and may want to consider a fixed-rate mortgage to secure against any further rate rise.
First time buy-to-letters should also note that current rental yields may now be lower.
For landlords in it for the long term, there are still some competitive deals on the market, including fixed-rate mortgages.".
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