UK interest rates have been held at the record low of 0.5% for another month by the Bank of England, it was announced today.
Nicholas Leeming said: The decision to maintain interest rates at the current, historically low levels comes as no surprise. However Mark Carney has been careful to flag that interest rates will edge higher in the longer term as the economy continues to grow and inflationary pressure on wages increase. Property buyers should recognise that rates will move towards more sustainable, long term levels and so budget for higher mortgage costs accordingly. Vendors should be aware that any such increases will create resistance to overly high guide prices.
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