Senior Bank of England member says it's a good time to fix

by Aaron Strutt

Jan 17 2014

A senior member of the Bank of England (BoE) has suggested that borrowers would be better off taking a fixed rate mortgage to avoid future base rate increases.

Mortgage Strategy magazine reports that Richard Sharp, an external member of the BoE's Financial Policy Committee, told MPs at a Treasury select committee meeting earlier this week: "We are now close to zero rate bound, so you also have to make a judgement about the future. Certainly, my judgement would be this would be a good time [to fix]."

The mortgage lenders have been offering some fantastically low mortgage rates for a while. The difference this time is the Funding for Lending scheme is being refocussed and it was one of the main drivers behind the really low mortgage rates.

If you would like help to secure a best buy mortgage, call us on 020 7016 0790.

January 17, 2014