Interest rates could rise

What is the likelihood that interest rates are likely to rise this year? This is the question that is on many landlords lips who are trying to plan their mortgage strategies going forward into next year. Mark Carney at his Mansion House speech last week told his audience of big wigs but really it is aimed at us all; that the journey back to normalised interest rates may start earlier than you think (in essence later this year). We have ruminated before on where next for interest rates as it is the most important economic variable faced by any geared landlord.

My view is that Carney is marking the end of this historic period of low interest rates without choking the normalisation of the property market and the rest of the economy.  How should landlords respond? No landlord should panic and over react.  Having said that I will be making sure that I finish my application for my 5 year fixed rate mortgage at just over 4% this weekend.  I'm pretty sure that this rate wont be around for much longer and in a couple of years time we will all be look back with incredulility at how low the fixed rates really got.

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