The Sunday Times - Get your finances in position for Bank rate rise
Speculation about a steeper than expected increase mounted last week when Charlie Bean, deputy governor of the Bank of England, said rates could reach 3% within the next three to five years after first rising next spring. Bank rate has remained at a record low of 0.5% since March 2009.
Aaron Strutt, of Trinity Financial, told The Sunday Times: “Making overpayments on a mortgage now may also allow borrowers to remortgage to a cheaper rate in the future. The more equity you have, the better the rate you can access.”
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