We are all preparing for the next interest rate decision on 4th August. Will the Bank of England raise interest rates again? So many people are toying with the idea of going for a fixed rate mortgage now and paying any possible penalties to have peace of mind on a fixed rate for the next 5 years.
I for one am torn my fixed rate mortgage comes to an end in October 2023 and I will incur a penalty if I pay back my mortgage early so what to do???
My question is how high could interest rates go? Read the BBC article by Kevin Peachey on 16th June 2022 https://www.bbc.co.uk/news/business-57764601.
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