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Interest rates will be low for longer

12 Jul 2016

The Bank of England (BoE) Governor Mark Carney indicated yesterday that ‘some monetary policy easing will be required over the summer’.

The Governor made the comments in response to the recent Brexit vote, and the resulting uncertainty for UK business and the economy

This means that the base interest rate is likely to be reduced from the current 0.5% - in fact financial markets are already pricing in a 75% chance that rates will be reduced this week.

The BoE also currently thinks that interest rates will not be higher than they currently are until some time after 2021

Whilst a cut from the current level is not likely to make a material difference to repayments for most people, it does mean mortgage repayments are unlikely to rise over this period.

When this is combined with the recent good news for buy-to-let tracker mortgages, landlords can approach UK property investment with increased confidence


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