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FRIDAY FAQ: Are mortgage rates going to increase again early in 2018?

Every Friday we aim to post an answer to a FAQ about mortgages, tax, investments, money matters, business or retirement. You can have your say too. Send an email with your FAQ to info@dentalandmedical.com


This article does not constitute advice. Professional advice should be taken prior to acting on any part of it. The Financial Conduct Authority does not regulate tax advice.


Q. Are mortgage rates going to increase again early in 2018?

Answer: On 2nd November the Bank of England’s Monetary Policy Committee announced it was rising the official bank rate by 0.25% to 0.50%. This was the first rise for 10 years.

According to the Bank of England’s governor, Mark Carney the country would need at least a further two rate rises over the next three years to prevent the market from “heating up”. 

However, some experts are saying that we can expect to see the rate rise to 1.25% by the end of 2018. Following this line of thought, we shouldn’t be surprised if a further rate rise is announced in early 2018.

If you are a doctor or dentist who owns your own property, or who holds a portfolio of properties, now is a good time to undertake a mortgage review to ensure that you are on the best rate possible. 

Our team have been looking after doctors and dentist’s mortgages for over 25 years, and are well placed to find you the best deal. 


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