No change predicted for interest rates
The Bank of England's Monetary Policy Committee meets on Thursday (July 8th) to decide whether to change the base rate of interest.
The verdict could have a direct impact on those with tracker or variable rate mortgages and homeowners considering taking out finance to invest in a bespoke conservatory or garden studio.
However, Brits need not worry as a leading economist has claimed that any change in the base rate is unlikely.
Centre for Economics and Business Research managing economist Charles Davis explained that the current economic climate of fiscal tightening means that there is a good chance that the committee will try to keep its "policy looser for longer".
"If you look at the data, the recovery is not robust yet, the recovery is in [progress] but it is still at a relatively early stage and we still have got an unprecedented fiscal policy tightening coming almost immediately," he said.
At the previous meeting of the Monetary Policy Committee, member Andrew Sentence voted to raise interest rates from 0.5 per cent over fears of inflation.
Posted by Ashley Ault
First-time buyers struggling due to criteria
Homeowners hoping to use their new bespoke conservatory to attract first-time buyers may be disappointed to hear the latest comments from John Charcol.The firm suggested that those with a lower deposit may still struggle to get a mortgage,...
Brochure
Would you like some more information on our conservatories? Order a copy of our brochure online today or call
Gallery
View either our residential gallery or our commercial gallery or view a number of our conservatory case studies.
