Remortgage Seekers May See a Different Lending Environment Soon
Remortgage hopeful homeowners may soon see a different lending environment. The Monetary Policy Committee (MPC) members voted 3 to 6 last month in their meeting to increase the interest rate. The range of the desired interest rate increases were from 0.25 per cent to as much as increasing the rate by double with a hike of 0.5 per cent. Next week will be the monthly MPC meeting and analysts are varied in their opinion in what could occur. Should an increase happen for the first time in two years the lending market will definitely be a different place for remortgaging than in months past
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