Will renting in London offer fewer problems with interest rate rise?
People unsure between property to rent in London and applying for home loan could make their minds up if they did not previously know how an interest rate increase might affect their finance month-by-month.
Newly published data from the recently created Consumer Financial Education Body revealed that almost three-quarters of mortgage holders are unaware that a rise in interest rates could increase the cost of deals with lenders and mean they have less in their pocket.
Furthermore, people considering looking for property to rent in the London borough of Bexley or around the UK were told that 15 per cent of those with home loans do not know what type of interest rate they are paying on their package.
There is some disagreement over whether the base rate should be raised or kept unchanged with the centre for economics and business research calling for the current levels to remain for some time.
On the other hand, Monetary Policy Committee member Andrew Sentance is fearful of inflation increases and called for the rate to be upped.
By Martyn Glynn
Published 8th July, 2010
© 2010 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
St John's Wood brings the village atmosphere to the capital
St John’s Wood is a great location for people looking to capitalise on all the benefits of London living without being caught up in all the hustle and bustle.
Read Article ... Published on 26th May, 2015
Yeading: Enjoy peaceful city living in an up-and-coming area
Yeading is a laid-back and peaceful residential area situated north-east of Hayes and is one of the most up-and-coming areas of the capital.
Read Article ... Published on 26th May, 2015
Hanwell: A green, peaceful environment for Londoners
Hanwell is a small town located in the Borough of Ealing and is in between Ealing and Southall, providing excellent transport links to the rest of the capital.
Read Article ... Published on 26th May, 2015
Mitcham Carnival announced for June
Mitcham Carnival has been announced for Saturday June 13th at Three Kings Piece.
Read Article ... Published on 22nd May, 2015
Hammersmith and Fulham Council start Park consultation
Hammersmith and Fulham Council have launched a new consultation on Hammersmith Park, inviting local residents to have their say on the area and how it can be improved.
Read Article ... Published on 22nd May, 2015
New conservation areas planned around Waltham Forest
Waltham Forest has announced plans for two new conservation areas near Lloyd Park and Bakers Arms town centre.
Read Article ... Published on 20th May, 2015
Sutton Council announces Take Part Take Pride summer festival
Sutton Council has announced its Take Part Take Pride summer festival.
Read Article ... Published on 20th May, 2015
Brent Council teams with Brent Housing Partnership in new project
Brent Council has partnered with the Brent Housing Partnership as it aims to improve the standard of housing for local people.
Read Article ... Published on 19th May, 2015
Gardeners prepare for Islington In Bloom
Islington Council is preparing for this year’s “In Bloom” event by teaming up with local gardeners to identify the best greenery available in the area.
Read Article ... Published on 15th May, 2015
New fitness centre set to open in Manor Park
A new fitness centre is expected to be opened in Manor Park by Newham Council.
Read Article ... Published on 15th May, 2015
More people may be considering property to rent in London borough of Bexley or around the country a less arduous option as it emerged that three-quarters of mortgage holders are unaware that an interest rate can affect monthly outgoings.