Cost of Living: 'Clients are concerned about interest rate rises'
Clients are very concerned about the rise in interest rates, a mortgage adviser from County Armagh has said.
On Thursday, a 12th consecutive rise saw the rate move from 4.25% to 4.5%.
The Bank of England said its decision, which affects the cost of borrowing, was an attempt to slow price rises.
Michelle Toal, from Mortgage Direct NI in Portadown, said her clients were "more conscious now" about securing a better rate for their mortgage "before they go on to the lender's standard variable rate".
Ms Toal said she had not witnessed a decrease in first time buyers, but many people who wish to move house may be holding off because of the rate of interest.
Read more here.
