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Industry reaction to interest rate rise from Antony Lark, Just Mortgages managing director PDF Print E-mail
Friday, 03 November 2017
Antony Lark, Just Mortgages managing director, says “The rise in interest rate will undoubtedly cause some concern and speculation amongst the public, but I’m not sure the Bank of England had any choice but to take some action with the rate of inflation on the increase.  What people must remember is that we have now only gone back up to the rate that we had in August 2016, and that the UK was at this rate for eight years.  This increase will likely spark a big upturn in re-mortgage activity which has already been rising over recent months.  The intermediary channel must be ready to service this increase in volume and ensure that their customers make the correct decisions. 

“People may question the timing but if it wasn’t now it would have been the New Year, a time when the public is short of cash due to their Christmas spending sprees; in other words the timing would have been criticised by some no matter when it happened. History has shown us that the BoE have been very cautious about any rise so to speculate that we are now going to see a rapid rate of increases seems somewhat contradictory.”

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