Homeowners be warned, the inflation figures for December were not good 2.9% in the year.
Another significant move was that the Skipton Building Society decided it would raise its SVR ( standard variable rate) from 3.5% to 4.95%. Quite a significant move up.
Its likely that other lenders will copy this move, so watch out!
The number of people fixing has already risen in response to the uncertainty. Thois was confirmed by Santander , a lender that is taking over everyone it would seem ( Abbey, Alliance & leicester and Bradford & Bingley).
Moneysupermarket.com the price comparison site,said it expected the cost of mortgages to increase as rising inflation pushed up interest rate expectations.
Cheers
