UK Interest Rates
With interest rates unlikely to fall further, attention will continue to be focussed on the Bank’s quantitive easing programme in the near term. However, looking further ahead, attention has already began to turn to the question of when, and how quickly, interest rates are likely to begin to rise. Interest rates are expected to remain unchanged in 2009 and to increase only gradually next year, although recent readings suggest that market participants are now expecting interest rates to increase at a brisker pace as we move into the later part of 2010.
“Based on this data, Freelancers and contractors who are about to remortgage or get a new mortgage and have a preference for a fix rate should aim to secure a 3-5 year fix rate.”
There are a now a number of high street lenders that will provide contractor mortgages working in the following contracting professions: IT, Finance, Engineering, Marketing, Oil & Gas, Medical and Managing Consultants.
Source – Barclays bank latest bullentin, which provides information only commentary on the issues affecting interest rates.
