Interest rates could hit 7.5 per cent, mortgage borrowers told by Finance News Bulletin

Published: 03/01/08

According to a warning from senior economists, interest tax could twisting upwards to 75 per cent, as inflation soars Nine leading economical strategists have candidly condemned the Bank of England financial Policy Committee The news is grim for mortgage borrowers, many of them unparalleled buyers, who are hurrying to secure a fixed-rate mortgage

The store of England is almost certain to increase interest tax next month, as the consumer price index (the benchmark of inflation) has now strike 31 per cent – the uppermost level for a decadeOne of the nine who wrote an unlock letter slamming the MPC, Tim Congdon, reportedly commented: "Inflation is back and it's leaving to get to 4% by the center of next year It's not as awful as earlier cycles, but it's nevertheless awful and it's going to end the usual method

Rates will have to go to 6 to 65%, may have to reach 75%"Recently, lenders have pulled fixed-rate mortgages off the marketplace, and bargains are becoming harder to safe

Mortgage borrowers were advised to consider affordability not just in the temporary, but in the future as wellnowadays's Most Popular Results Mortgage Enquiry Form Need existence Insurance ------ Mortgages - Information Mortgages - Home ------ Financial armed forces - HomeNone of the information on this website is intended to promote any exact mortgage product or give mortgage advice Mortgages

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