Will the monetary policy committee’s latest interest rate rise hurt your clients? Yes “It will be a problem for my clients but for others it will be drastic if they are on adverse deals, which we don’t do.”
Michael Brayne, Brayne & Co
No “I don’t think it will make too much difference in terms of monthly repayments if you take a typical 100k mortgage. People will just tighten their belts a bit.”
Karen Sharp, Sound Financial Services
No “We are mainly in the buy to let market so I don’t think it will be enough to put our clients off.”
Martin Lofthouse, Lofthouse and Co The Mortgage House
No “It will not, because I deal with wealthy clients and a rise in interest rates will help out their cash on deposits. There is always a silver lining. Whether it is good for the economy though, I think probably not.”
Weybrook Financial Management, Peter Grant
No “It will not cause much of a difference at this time as most of our mortgage clients are on fixed-rate deals.”
Tony Black, Anthony Black & Co.
No “We were expecting it and it is only a small increase, so I shouldn’t think so. If it went up by 1 per cent or so, then people might get hurt by it but not at this small rise.”
Ciaren Holmes, Lakeland Insurance Services
No “We deal mainly with investment clients and I would imagine it would only hurt those with mortgages or loans. As for those investing in cash, for example, they will more likely benefit. This was exactly as expected.”
Philip Dhillon, Saint & Co.
Yes “I do not think it should have been in there at all. There is no need for it at the moment – they seem to be focusing purely on house prices rather than looking at the economy as a whole.”
David Taylor sole trader Money Marketing welcomes readers’ letters for publication. Letters should be sent to: The Editor, Money Marketing, 50 Poland Street, London, W1F 7AX.