Page 17 - April 2023
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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
 16  |  espc.com

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