20
Feb
Uncertain economic climate 'leaves homeowners in limbo'
The uncertainty surrounding the UK economy leaves homeowners with a
"dilemma on their hands" about which mortgage product to choose,
according to head of Abbey Mortgages Nici Audhlam-Gardiner.
Research from the company suggests close to two-thirds of the
homeowning population in Britain would encounter difficulties when
choosing a mortgage if they decided to remortgage tomorrow.
It appears from the study that not knowing when or how much the
interest rate is going to drop in the coming months has left
consumers "in a quandary".
Emphasising this point, Ms Audhlam-Gardiner states: "Depending on
who you talk to, there are different outlooks for the UK economy
and for Bank of England base rates."
She adds that most economists agree rates will go down in the
future, but there is debate about the level of the reduction.
Interest rates last came down at the start of this month and now
stand at 5.25 per cent.
