Interest Rate Hike Likely
April 23rd 2008: An interest rate hike looks likely amid raising inflation due to increasing food and petrol prices. This is a double blow for first time buyers. Firstly, increasing living costs stifle a first time buyer's chances of raising a sufficient deposit. Secondly, an increase in the base rate will trigger further rises in lenders' mortgage rates.
In addition, if interest rates increase, we can expect more news of increasing repossessions for existing home owners.
First House Page.com have created 101 Tips to Save a Deposit for a House in an attempt to help our readers continue to towards getting their first house.
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Website founded by Tim Ballard. First House Page.com trades under the name of Tim Ballard.
None of the information contained in this website constitutes, nor should be construed as financial advice. We recommend that you seek independent financial advice from a financial advisor on all financial matters. Despite careful content verification, we are not responsible for the content of third-party sites. We cannot guarantee the accuracy of information on this website. Your home may be repossessed if you do not keep up repayments on your mortgage. Property values can go up as well as down.
