The i - Cheapest mortgage rates could 'vanish' after inflation climbs to 3%
A bigger-than-expected rise in inflation is likely to put a price war between mortgage lenders on hold, experts have predicted. Inflation rose from 2.5 to 3 per cent, according to figures released by the Office for National Statistics (ONS) on Wednesday, a bigger jump than economists had forecast.
Aaron Strutt of brokers Trinity Financial told The i: “Clearly, this is not great news and could quite easily mean the predicted reductions to the Bank of England rate may take longer to come through.
“The standard mortgage advice still stands, if you are one the significant number of homeowners who need to remortgage soon, it is a good idea to lock into one of the cheaper rates being offered.”
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