Financial Times - Homeowner relief over deferred rate rise
Homeowners braced for an imminent increase in mortgage repayments have been given a reprieve, after the Bank of England reiterated that interest rates would rise only gradually.
Comments from Bank officials at the launch of its quarterly inflation report this week suggested there was little chance of a rate rise in the next four months, moderating expectations amoung economists of a rate rise this year.
Aaron Strutt, a broker at Trinity Financial, notes many of the trackers are the cheaper option, despite most customers seeking to fix.
The Woolwich offers a three-year tracker at 1.65 per cent for large loans of between £500,000 and £2m, with no early repayment charge. It also allows borrowers to switch to a fixed-rate deal without a fee.
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