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The latest advice on interest rates

After the Bank of England raised the base rate to 0.75% in August, the one fact that seems almost certain is that interest rates are unlikely to rise again this year. However, nobody can predict how political events will unfold before Brexit takes place in March 2019.

Borrowers can hedge against this uncertainty by securing a mortgage offer that remains valid for up to six months, something many lenders provide.

We also anticipate that more people will explore their mortgage options in the final few months of the year precisely because they will be able to watch events from the sidelines before acting.

The political uncertainty is showing no signs of reducing and Bank of England governor Mark Carney is in talks about extending his stay to smooth the path of Brexit, which should have a steadying effect on monetary policy.

Either way, borrowers may be well advised to start exploring their options sooner rather than later. If uncertainty levels continue to rise, it could also impact the risk appetite for some overseas lenders in relation to the UK.

If you would like to review your borrowing options or have any questions about what the rest of 2018 may bring, please speak to us.

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Disclaimer

Mortgage Advice. The choice of interest rate and product terms will depend on your circumstances and the amount of the mortgage. Before you make a mortgage application, we will carry out a full review to establish your needs and preferences and if you meet the criteria, we will give advice and make a recommendation to you. There may be a fee for mortgage advice. All mortgages are subject to status. Please note that all products show an indicative rate only and may not be suitable for you. You must be 18 or over.

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Knight Frank Finance LLP is a limited liability partnership registered in England and Wales with registered number OC322399. The principal office of Knight Frank Finance LLP is situated at 55 Baker Street, London W1U 8AN. Knight Frank Finance LLP is authorised and regulated by the Financial Conduct Authority under Financial Services Register number 459093.