Page 16 - April 2023

EXPERT ADVICE
SCOTLAND’S PREMIER REMOVAL
AND STORAGE SERVICE

Should buyers be worried about interest rates?

Murray Souter, Independent Mortgage Adviser at ESPC Mortgages,
gives his tips on how to handle your mortgage interest rates.

here has recently been a lot of negative Despite this, over the past few months, lender
press about interest rates. Rates began confidence has returned and fixed rates have
Trising after the UK Government’s mini been consistently reducing. For those who
budget in September last year, leading to a lack want to know exactly how much they will pay
of confidence in the market from lenders and a each month, a fixed rate product provides that
lot of uncertainty. security, remaining unchanged for the duration
of the deal. During the fixed period, you’ll be
The Bank of England (BoE) raised interest protected against any rate increases, but at
rates again on 23rd March with a 0.25% rise the end of the fixed period, you automatically THE ART OF BEING LOCAL, NATIONWIDE
bringing the base rate up to 4.25% in an move onto the lender’s variable rate, which will
attempt to slow rising inflation. This will most likely be a lot higher. With more than 100 years’ experience, we are one of the country’s leading
affect those who are on tracker mortgages companies in household removals and storage. Whether you are moving locally, nationally,
who will see an immediate impact on their Despite speculations to the contrary, the internationally or even need to store your treasured possessions, our team of experts
mortgage repayments after the BoE rate outlook for the immediate future is looking a lot
hike. The average mortgage payment is more stable. Engaging with an ESPC mortgage will ensure that you can sit back while we take care of everything.
expected to rise by about £24 monthly for adviser can help you keep on top of market
the average tracker mortgage and £15 a changes and the dynamic world of mortgages
month for the average standard variable rate and help you get the most competitive product For a free moving survey and advice contact:
(SVR) mortgage. for your circumstances. JOHN DUNCAN REMOVALS - EDINBURGH
0131 654 1200
ESPC@dbonner.co.uk
ESPC Mortgages offer expert mortgage advice in Edinburgh. which, despite our precautions, it may contain. The initial

If you are looking for first-time buyer mortgage advice, consultation with an adviser is free and without obligation. DOREE BONNER INTERNATIONAL - GLASGOW
get in touch with the team on 0131 253 2920 or Thereafter, ESPC Mortgages’ charges for mortgage advice are 0141 339 6000
fsenquiries@espc.com usually £350 (£295 for first time buyers).
ESPC@dbonner.co.uk
The information contained in this article is provided in good YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP
faith. Whilst every care has been taken in the preparation of UP REPAYMENTS ON A MORTGAGE OR OTHER LOANS www.doreebonner.co.uk
the information, no responsibility is accepted for any errors SECURED AGAINST IT.
JOHN DUNCAN REMOVALS ARE PART OF THE DOREE BONNER INTERNATIONAL GROUP
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