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By Richard Ollive

Interest rate rises could impact mortgage-holders

Media centre financial planning
1 min
Lady in white

If you are covering the March 2023 increased interest rates, please see the following comment from Richard Ollive, Senior Specialist Financial Adviser at Wesleyan Financial Services:

"The Bank of England could raise interest rates once more when it meets tomorrow, but savers are unlikely to see the benefit any time soon, and there could be even higher costs for those with fixed-rate mortgages about to expire and those already on tracker rates.

"Mortgage-holders in this situation should consider reviewing their options with the help of a professional mortgage adviser. Meanwhile, those who can put some money aside should consider how to make it work as hard as possible.

"With just days left until the end of this tax year, that should include making the most of any remaining ISA allowances, or saving into their pension."

For more comments from Wesleyan, contact our PR Manager, Nicola Pledger.