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Assetz Responds to the Bank's Decision to Hold Interest Rates at 0.5%

9th April 2009 | back to article listings BACK    print this article PRINT

Assetz Responds to the Bank's Decision to Hold Interest Rates at 0.5%

Stuart Law, Chief Executive of Assetz, responds to the Bank's decision to hold interest rates at 0.5%:

"The Bank of England has gone just about as far as it can on interest rate cuts, so today’s decision comes as little surprise. Its challenge now is to watch closely for the risk of significant inflation following the commencement of quantitative easing, with many indicators pointing to an economic recovery underway within 12 months.

“Millions of homeowners have benefitted from the recent downward trends in interest rates and this extra cash is starting to flow into the economy. We are now starting to see an increasing number of competitive mortgage offers, and the high level of buyer enquiries is starting to translate into sales.

"Now is the time to move onto a fixed rate deal with at least a 5-year term. Those homeowners with precarious finances in particular, should avoid the temptation to continue enjoying low repayments on their tracker or variable rate mortgage, as the next interest rate movement will almost certainly be up, before the end of this year. The cheapest long term solution will be to fix as soon as possible."

 


This is a press release by Assetz also available at http://press.assetz.co.uk/articles/4733.html. Alternatively, please see our full press release archive.

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