No mortgage reductions this year after inflation rise, experts predict

Inflation rose by more than expected on Wednesday, with further rises expected in the coming months

are likely to continue to climb after inflation was revealed to have risen more than expected on Wednesday, with no further reductions expected this year.

Nick Mendes, mortgage technical manager at John Charcol brokers, said that the chance of any reduction this year in rates was unlikely. “As we head into December, the holiday period becomes an important factor for lenders when assessing their position and the potential impact on service levels. While we may see certain outliers which have the resources and capacity to manage effectively, the overall lack of competition in the market will also play a significant role.”

Lewis Shaw of Shaw Financial Services said that Swaps had held “remarkably steady” so far given recent data releases, but that currently it seemed that although significant rises were not going to happen, it was unlikely there would be cuts to rates this year.

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