21 Feb

Planning could help buy houses for sale in 2011

Planning could help buy houses for sale in 2011

People planning to take out a mortgage could benefit from planning ahead for monthly payments.

The governor of the Bank of England recently hinted that there will be three base rate rises in 2011.

Increases could surprise current homeowners and people looking to buy houses for sale in 2011 if not prepared for, according to Nationwide.

Recent research by the bank has revealed that three quarters of mortgage holders have made no plans for a base rate increase.

In addition, only one in six people say they plan to act immediately when rates rise to ensure they have got the best mortgage deal.

Martyn Dyson, mortgage specialist at Nationwide, said: "Customers have got a different attitude to their mortgage than other things.

"It is a good time now for people to take stock of their position ... and find out what their options are.

 Larger items such as cars or holidays can sometimes take precedence, he added.ADNFCR-1222-ID-800417816-ADNFCR

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