{"id":2869,"date":"2022-01-24T14:41:45","date_gmt":"2022-01-24T14:41:45","guid":{"rendered":"https:\/\/www.fpgonline.co.uk\/?p=2869"},"modified":"2022-01-24T14:48:54","modified_gmt":"2022-01-24T14:48:54","slug":"protection-as-further-interest-rate-home-loan-rises-predicted","status":"publish","type":"post","link":"https:\/\/www.fpgonline.co.uk\/index.php\/protection-as-further-interest-rate-home-loan-rises-predicted\/","title":{"rendered":"Protection As Further Interest Rate &#038; Home Loan Rises Predicted"},"content":{"rendered":"<div class=\"\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-2841\" src=\"https:\/\/www.fpgonline.co.uk\/wp-content\/uploads\/2021\/09\/shutterstock_387290149-300x199.jpg\" alt=\"\" width=\"300\" height=\"199\" \/>According to recent press reports, homeowners will be hit by rising mortgage bills if the Bank of England heeds economists\u2019 calls to increase interest rates in order to tackle the spiralling price of everyday goods.<\/div>\n<div class=\"\"><\/div>\n<div class=\"\">The Bank is facing mounting pressure to put up interest rates at a faster rate than previously planned to help slow soaring inflation, which leapt to 5.4% in December, its highest level in nearly 30 years. Millions of households are justifiably concerned about covering grocery, fuel, energy and home loan bills.<\/div>\n<div class=\"\"><\/div>\n<div class=\"\">In a speech made to Official Monetary and Financial Institutions Forum on Friday, Bank of England policymaker, Catherine Mann, underlined the thinking regarding further base rate rises by saying, \u201cGoing into 2022, current price and wage expectations coming from the monthly decision maker panel are inconsistent with the 2 per cent target, and if they are realised in 2022 are likely to keep inflation strong for longer\u2026 It should be a concern that the costs from 2021 are becoming reflected in price expectations for 2022.\u201d<\/div>\n<div class=\"\"><\/div>\n<div class=\"\">Steve Padgham, The Financial Planning Group\u2019s Head of Mortgages, said: \u201cChanging expectations based on current forecasts is essential, and we can all start to take action to soften the impact that further mortgage rate rises could bring. Whether that is switching to a three, or five year, fixed rate mortgage, or by letting us help you reserve a deal for six months so you have flexibility and peace of mind to switch a little further down the line. Either way, it is important to speak with an independent mortgage advisor so you are aware what offers are available for you to take advantage of. Savvy people certainly get the best rates!\u201d<\/div>\n<div class=\"\"><\/div>\n<div class=\"\"><b class=\"\">If you\u2019d like to discuss ways of securing a longer fixed rate mortgage deal then please do not hesitate to contact Steve Padgham at The Financial Planning Group via e-mail at <a class=\"\" href=\"mailto:Steve.Padgham@fpgonline.co.uk\">Steve.Padgham@fpgonline.co.uk<\/a> or by calling 020 8977 7090<\/b><\/div>\n","protected":false},"excerpt":{"rendered":"<p>According to recent press reports, homeowners will be hit by rising mortgage bills if the Bank of England heeds economists\u2019 calls to increase interest rates in order to tackle the spiralling price of everyday goods. The Bank is facing mounting pressure to put up interest rates at a faster rate than previously planned to help [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-2869","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Protection As Further Interest Rate &amp; Home Loan Rises Predicted - The Financial Planning Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fpgonline.co.uk\/index.php\/protection-as-further-interest-rate-home-loan-rises-predicted\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Protection As Further Interest Rate &amp; Home Loan Rises Predicted - The Financial Planning Group\" \/>\n<meta property=\"og:description\" content=\"According to recent press reports, homeowners will be hit by rising mortgage bills if the Bank of England heeds economists\u2019 calls to increase interest rates in order to tackle the spiralling price of everyday goods. 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