It’s all panic in the mortgage market! Rates keep going up and that will negatively affect property values.
The Bank of England base rate has risen!
The Bank of England base rate was at 0.1% in February 2009 and has now jumped to 3%. The Bank of England predicted this increase in 2022 and it is mooted that the base rate will go to 5% in 2023.
If you look back at the base rate in November 1979, it was at 17% That’s the highest it has ever been since records began in 1694!
The cost of living is going up all the time and with inflation at more than 10%, this means your spending power is decreasing all the time.
Some people are worried about heating their home, running their car, even the cost of food is an issue with prices going up all the time.
The obvious solution is equity release via a lifetime mortgage.
There are lenders that provide a tax-free lump sum for you to do with as you see fit, or you can have a drawdown and take an annual cash sum. There is very little paperwork, no income or affordability assessment. Apart from the small solicitor fee there are no other costs or fees to worry about.
Contact Equity Release Brokers Limited to see how we can help.
MonthBase RateChange03 Nov 20223.00%0.7522 Sep 20222.25%0.5004 Aug 20221.75%0.5016 Jun 20221.25%0.2505 May 20221.00%0.2517 Mar 20220.75%0.2503 Feb 20220.50%0.2516 Dec 20210.25%0.1519 Mar 20200.10%0.1511 Mar 20200.25%0.5002 Aug 20180.75%0.2502 Nov 20170.50%0.2504 Aug 20160.25%0.2505 Mar 20090.50%0.5005 Feb 20091.00%0.5008 Jan 20091.50%0.5004 Dec 20082.00%1.0006 Nov 20083.00%1.5008 Oct 20084.50%0.5010 Apr 20085.00%0.2507 Feb 20085.25%0.2506 Dec 20075.50%0.2505 Jul 20075.75%0.2510 May 20075.50%0.2511 Jan 20075.25%0.2509 Nov 20065.00%0.2503 Aug 20064.75%0.2504 Aug 20054.50%0.2505 Aug 20044.75%0.2510 Jun 20044.50%0.2506 May 20044.25%0.2505 Feb 20044.00%0.2506 Nov 20033.75%0.2510 Jul 20033.50%0.2506 Feb 20033.75%0.2508 Nov 20014.00%0.5004 Oct 20014.50%0.2518 Sep 20014.75%0.2502 Aug 20015.00%0.2510 May 20015.25%0.2505 Apr 20015.50%0.2508 Feb 20015.75%0.2510 Feb 20006.00%0.2513 Jan 20005.75%0.2504 Nov 19995.50%0.2508 Sep 19995.25%0.2510 Jun 19995.00%0.2508 Apr 19995.25%0.2504 Feb 19995.50%0.5007 Jan 19996.00%0.2510 Dec 19986.25%0.5005 Nov 19986.75%0.5008 Oct 19987.25%0.2504 Jun 19987.50%0.2506 Nov 19977.25%0.2507 Aug 19977.00%0.2510 Jul 19976.75%0.2506 Jun 19976.50%0.2506 May 19976.25%0.3130 Oct 19965.94%0.2506 Jun 19965.69%0.2508 Mar 19965.94%0.1918 Jan 19966.13%0.2513 Dec 19956.38%0.2502 Feb 19956.63%0.5007 Dec 19946.13%0.5012 Sep 19945.63%0.5008 Feb 19945.13%0.2523 Nov 19935.38%0.5026 Jan 19935.88%1.0013 Nov 19926.88%1.0016 Oct 19927.88%1.0022 Sep 19928.88%1.0005 May 19929.88%0.5004 Sep 199110.38%0.5012 Jul 199110.88%0.5024 May 199111.38%0.5012 Apr 199111.88%0.5022 Mar 199112.38%0.5027 Feb 199112.88%0.5013 Feb 199113.38%0.5008 Oct 199013.88%1.0006 Oct 198914.88%1.1308 Sep 198913.75%0.1304 Sep 198913.88%0.0431 Aug 198913.84%0.0925 May 198913.75%0.8725 Nov 198812.88%1.0025 Aug 198811.88%1.0008 Aug 198810.88%0.5021 Jul 198810.38%0.5007 Jul 19889.88%1.0024 Jun 19888.88%0.5010 Jun 19888.38%0.5003 Jun 19887.88%0.5017 May 19887.38%0.5008 Apr 19887.88%0.5017 Mar 19888.38%0.5001 Feb 19888.88%0.5003 Dec 19878.38%0.5004 Nov 19878.88%0.5023 Oct 19879.38%0.5006 Aug 19879.88%1.0008 May 19878.88%0.5028 Apr 19879.38%0.5018 Mar 19879.88%0.5009 Mar 198710.38%0.5015 Oct 198610.88%1.0023 May 19869.88%0.5018 Apr 198610.38%0.5011 Apr 198610.88%0.5019 Mar 198611.38%1.0015 Jan 198612.38%1.0026 Jul 198511.38%0.5011 Jul 198511.88%0.5019 Apr 198512.38%0.5028 Mar 198512.88%0.5020 Mar 198513.38%0.5028 Jan 198513.88%2.0014 Jan 198511.88%2.3823 Nov 19849.50%0.2519 Nov 19849.75%0.2505 Nov 198410.00%0.5017 Aug 198410.50%0.2516 Aug 198410.75%0.2509 Aug 198411.00%0.5008 Aug 198411.50%0.5011 Jul 198412.00%2.0006 Jul 198410.00%1.1229 Jun 19848.88%0.1810 May 19849.06%0.5014 Mar 19848.56%0.2507 Mar 19848.81%0.2503 Oct 19839.06%0.5010 Aug 19839.56%0.1209 Aug 19839.44%0.1214 Jun 19839.56%0.2513 Jun 19839.81%0.2514 Apr 198310.06%0.2513 Apr 198310.31%0.2515 Mar 198310.56%0.4412 Jan 198311.00%1.0026 Nov 198210.00%0.8702 Nov 19829.13%0.2501 Nov 19829.38%0.2512 Oct 19829.63%0.5030 Sep 198210.13%0.1229 Sep 198210.25%0.1328 Sep 198210.38%0.1227 Sep 198210.50%0.1327 Aug 198210.63%0.2526 Aug 198210.88%0.1225 Aug 198211.00%0.1324 Aug 198211.13%0.1217 Aug 198211.25%0.1316 Aug 198211.38%0.1204 Aug 198211.50%0.0602 Aug 198211.56%0.0730 Jul 198211.63%0.1229 Jul 198211.75%0.0628 Jul 198211.81%0.1326 Jul 198211.94%0.1221 Jul 198212.06%0.0713 Jul 198212.13%0.1212 Jul 198212.25%0.2509 Jul 198212.50%0.1308 Jun 198212.63%0.5020 Apr 198213.13%0.1319 Apr 198213.00%0.1316 Apr 198213.13%0.1210 Mar 198213.25%0.3825 Feb 198213.63%0.1822 Feb 198213.81%0.0722 Jan 198213.88%0.1221 Jan 198214.00%0.1320 Jan 198214.13%0.1219 Jan 198214.25%0.0618 Jan 198214.31%0.0704 Dec 198114.38%0.1825 Nov 198114.56%0.0709 Nov 198114.63%0.4306 Nov 198115.06%0.0728 Oct 198115.13%0.1312 Oct 198115.00%1.0015 Sep 198114.00%1.3125 Aug 198112.69%0.6911 Mar 198112.00%2.0025 Nov 198014.00%2.0003 Jul 198016.00%1.0015 Nov 197917.00%3.0013 Jun 197914.00%2.0005 Apr 197912.00%1.0001 Mar 197913.00%1.0008 Feb 197914.00%1.5009 Nov 197812.50%2.5008 Jun 197810.00%1.0015 May 19789.00%0.2508 May 19788.75%1.2512 Apr 19787.50%1.0009 Jan 19786.50%0.5028 Nov 19777.00%2.0017 Oct 19775.00%0.5010 Oct 19775.50%0.5019 Sep 19776.00%0.5012 Sep 19776.50%0.5015 Aug 19777.00%0.5008 Aug 19777.50%0.5016 May 19778.00%0.2502 May 19778.25%0.5025 Apr 19778.75%0.2518 Apr 19779.00%0.2512 Apr 19779.25%0.2531 Mar 19779.50%1.0021 Mar 197710.50%0.5010 Mar 197711.00%1.0003 Feb 197712.00%0.2531 Jan 197712.25%1.0024 Jan 197713.25%0.7510 Jan 197714.00%0.2529 Dec 197614.25%0.2520 Dec 197614.50%0.2522 Nov 197614.75%0.2507 Oct 197615.00%2.0013 Sep 197613.00%1.5024 May 197611.50%1.0026 Apr 197610.50%1.5008 Mar 19769.00%0.2501 Mar 19769.25%0.2509 Feb 19769.50%0.5002 Feb 197610.00%0.5026 Jan 197610.50%0.2519 Jan 197610.75%0.2505 Jan 197611.00%0.2529 Dec 197511.25%0.2501 Dec 197511.50%0.2517 Nov 197511.75%0.2506 Oct 197512.00%1.0028 Jul 197511.00%1.0005 May 197510.00%0.2521 Apr 19759.75%0.2524 Mar 197510.00%0.2510 Mar 197510.25%0.2517 Feb 197510.50%0.2510 Feb 197510.75%0.2527 Jan 197511.00%0.2520 Jan 197511.25%0.00
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