Borrowers must prepare now for a rise in interest rates,
a charity says, with over a million homeowners never having experienced a Bank
rate increase. Mark Carney, the Bank of England governor, said that a rise in
the Bank Rate was "drawing closer". The Money Advice Trust said this
offered only a "short window" for people to organise their finances.
More than a million mortgage holders have only ever owned a home when rates
were falling or frozen at 0.5%. The last rise in the UK Bank Rate was an
increase to 5.75% in July 2007. About 1.8 million homeowners have taken out a
mortgage for a new home since then although some would have owned previously
then left the market. Read more on the BBC website.
End to school rating system could play havoc with house prices, says Ofsted
chief
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Martyn Oliver says he knows of property values shooting up by £15,000 after
schools were graded as outstanding
House prices in England could be put in tu...
5 hours ago
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