…interest rate held at 5.25%
Posted by admin on March 6th, 2008
As expected, the Bank of England’s Monetary Polict Committee decided to leave interest rates unchanged today at 5.25%.
This comes as lenders continue to increase their mortgage rates and tighten lending criteria in response to current market conditions. The number of lenders and the number of mortgage products available has been shrinking and this reduction in competion has fed through to an increase in rates and fees.
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