Many homeowners will have been relieved by the Bank of England decision to cut interest rates by 0.25% to 5.5%, but money experts are warning that it ill take some time for the benefits to trickle down to homeowners. The reason is that banks are currently lending money to each other at 6.65%, which is the highest level for almost a decade.
With rising interest rates, more people are getting into mortgage arrears recently; while the number of repossessions is tipped to rise next year. Here are ten steps to help borrowers avoid getting into arrears with mortgages and risking repossession.
With rising interest rates, home introduction packs, as well as the effect of Northern Rock’s recent difficulties, the housing market seems to be cooling in a number of areas.
The sale of my property was well managed with regular communication and advice and support provided throughout the process. The company also provided legal support through one of their panel solicitors which was professional friendly and reassuring during what was a complex sale. They are trustworthy and reliable and I would recommend this company to anyone looking to sell their property. Thank you for making this a much easier process.
R. Mangal, Leyton, London, E10