INTEREST RATE QUESTIONS

While the economy is being sorted out, it is likely that the Bank of England will continue to keep interest rates low. However, at some point rates will inevitably begin to go up. If you do not already have a good mortgage deal and are looking for options, it may well be a good idea to go for a fixed rate for 3 years or longer. This will ensure you are not stung by increasing costs for that period. Those who will not be hurt by an interest rate of 0.5% to 1.0% might wish to continue to bet on the Tracker rates.