Great for First-Time Buyers (bad for savers & businesses)
Interest Rate Cut to 0.25%The Bank of England announced today that it is going to cut interest rates from 0.5% to 0.25%.
“This is good news for anyone looking to buy a property at the moment because the interest rates are at an all-time low. From that point of view there has never been a better time to take out a mortgage in this country, ever. On the other hand this is further bad news for savers who have been generating little or no interest on their money for years now, and their position has just got worse.”
The Mortgage Hut is a fast rising mortgage broker that was founded by Chris Schutrups five years ago. The company has five branches across Hampshire as well as a London branch with a team of 22 advisors.
The Mortgage Hut is based in Southampton, Hampshire, with Chris Schutrups at the helm as managing director. It is an expanding business and currently has five branches operating in Hampshire and London. The company provides advice on mortgages, remortgages, life insurance, critical illness cover, income protection, contents and buildings cover as well as surveys and evaluation.