Friday, July 06, 2007
BoE Rate Rise to 5.57%
THE BANK of England yesterday raised interest rates to 5.75% - the fifth rise in the space of 11-months.
The move will make life tougher for many homeowners. It will also have an impact on the retail motor industry as mortgage repayments swallow-up more of householders' disposable income. The Moneyfacts website estimates that monthly payments on a £200,000 repayment mortgage will rise by £30.04.
The rise of 25 basis points puts interest rates at its highest level for 6-years.
DATED: 06.07.07
FEED: AW
The move will make life tougher for many homeowners. It will also have an impact on the retail motor industry as mortgage repayments swallow-up more of householders' disposable income. The Moneyfacts website estimates that monthly payments on a £200,000 repayment mortgage will rise by £30.04.
The rise of 25 basis points puts interest rates at its highest level for 6-years.
DATED: 06.07.07
FEED: AW
