Are you worried about interest rates?
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In the last year, the Bank of England has increased the interest rates a number of times.
This has led to speculation about the potential impact on the property market.
One concern is that higher interest rates could lead to a slowdown in the housing market, as they make borrowing more expensive for both home buyers and landlords.
This could lead to fewer people being able to afford to buy or rent properties, resulting in lower demand and potentially lower property prices.
However, it is important to note that the property market is influenced by many factors, and interest rates are just one of them.
Other factors that can affect the market include the state of the economy, employment levels, and the availability of credit (both of which are excellent)
Overall, the impact of higher interest rates on the overall property market is difficult to predict with certainty.
It is important for those considering buying or selling a property to carefully consider their own financial situation and the potential impact of interest rate changes on your ability to afford a home.
It may also be wise to seek the advice of a financial professional before making any major decisions.
If you would like to chat about anything discussed in this post, don’t hesitate to give a call on 01792 845855.