Wednesday 13 December 2017

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Market Insight

Kerrie Carlyon, Senior Mortgage Advisor and Director
The Mortgage Shop

Kerrie Carlyon, Senior Mortgage Advisor and Director

November 2017

The news that the Bank of England had increased Base Rate to 0.50% came as no surprise after the weeks of hinting by Mark Carney, the Governor of the bank. It is unlikely that the news will have any impact on the Jersey property market, as the increased cost of borrowing will not make as big a mark as many people had feared.

This is the first upward move for more than a decade and it has been suggested that there will be further rises in the next three years that will take base rate up to 1% by the end of 2020. The move is designed to keep a lid on inflation which has surged at a mu...

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