I, like many others, was hugely relieved when the Bank of England elected to keep the Bank Base rate at 0.5% when they reached their final decision on 4th Feb 2010. You’ll recall that this means the bank base rate of interest has been at that low level since 5th March 2009, when it was reduced by 0.5% to 0.5%, where it stayed since that time. And long may that remain! Next month’s Bank of England Base Rate judgement is going to be due on the 4th March – an occasion by now recorded on my diary.
All the same, we all ought not to rest on our laurels, seeing that there is a great deal of uncertainty around when the rates of interest could start to increase yet again, not to mention by just how much. For anyone who is in no way tied into a current mortgage loan agreement, it truly is worth maintaining a careful eye on the steady stream of Mortgage Best Buy Promotions which are frequently being launched.
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