<\/p>\n
The Bank of England\u2019s Consumer Price Index cost of living benchmark for August matched May\u2019s five-year high figure, prompting talk of an interest rate hike sooner than previously expected.<\/p>\n
The Bank\u2019s policy makers meet later this week to discuss whether to raise the base lending rate from its historical low of 0.25%, however, many analysts believe that a rise may be delayed a little longer yet \u2013 but that\u2019s not a guarantee.<\/p>\n
Adam Chester, head of economics at Lloyds Bank Commercial Banking, told the Evening Standard: \u201cWe think that Brexit uncertainty will continue to trump inflation concerns and rates will remain on hold for now, but the risks are shifting.\u201d<\/p>\n
The latest inflation figures caused the value of the Pound to strengthen against both the Dollar and Euro, but they further highlight the wider pressure on the cost of living and talk of interest rate rises, will raise alarm bells in households up and down the land as home loan rates would undoubtedly jump accordingly.<\/p>\n
Now may be the perfect time to assess your medium-long term mortgage situation.<\/p>\n
Here at The Financial Planning Group, we pride ourselves on being to offer our clients mortgage products from the whole market, which opens up so many more options and offers \u2013 we have more than 24 years experience in helping families find the perfect low-rate deals and ensuring that the financial side of moving home is as stress free as possible.<\/p>\n