Press Release Summary = Market commentators have again raised fears that the Bank of England could soon raise interest rates by a further 0.25 per cent before the summer is out.
Press Release Body = Trevor Williams, a chief economist at Lloyds TSB, said that the Bank of England\'s monetary policy committee (MPC) would almost certainly increase the base rate to 5.75 per cent by the end of the summer.
However, he said that the rate rise was unlikely to be this month.
\"We may well see a rate rise before the summer is out, but a move this month is highly unlikely,\" Mr Williams said.
\"We\'ve seen rates increased four times since August last year and the effects of these are only just starting to show through inflation is coming off the boil, the housing market is cooling and signs of slower activity are appearing in the retail sector.\"
Market analysts have widely predicted that the MPC will raise interest rates in July this year, with the Royal Institution of Chartered Surveyors predicting that rates could soon hit six per cent.
Julian King, director of fast purchase property firm National Homebuyers says: \"It\'s the compounding effect of interest rate rises that homeowners should consider, not the arrival date.
\"Interest rates will rise to 6 per cent this year.
\"Homeowners waiting for the rise before deciding that the only way out is to sell their property are heading for a fall. Repossessions are at an all time high and people on a fixed-rate mortgage should be aware that although things are manageable right now, on the end of their agreement, they will see an astronomical rise in their monthly payments.\"
Homeowners needing to sell their property could consider the National Homebuyers option of \'fast sale\' or \'sell and rent back\'. The Sussex-based company purchases properties for cash at a timescale that suits the vendor. Additionally they offer a \'Sell and Rent Back\' solution allowing homeowners to release equity in their home without the need for moving.
More information is available at www.nationalhomebuyers.co.uk/index.asp
Web Site = http://www.nationalhomebuyers.co.uk
Contact Details = Sterling House 20 Victoria Way Burgess Hill West Sussex RH15 9NF 0870 979 8118 Fax: 01444 257333 info@nationalhomebuyers.co.uk
2012
