×


Home About Contribute Sponsorship Contact Sign In
×







.


Finance Industry News

Shropshire finance company reassures households over rising interest rates


One of Shropshires leading finance companies says homeowners and prospective buyers should not panic over the recent hike in interest rates.

Shropshire finance company reassures households over rising interest rates


"With inflation continuing to rise sharply, were not surprised by the Bank of Englands decision to increase interest rates."
Mitchell Gough



Q Financial Services, which has its offices in Wellington and Shrewsbury, said the increase in rates from the historic low of 0.1% to 0.25% should have minimal impact in the short term.

However Q director Mitchell Gough says further rises are likely in the months ahead as the Bank of England fights soaring inflation – and urged households to review their own budgets in the new year.

“With inflation continuing to rise sharply, we’re not surprised by the Bank of England’s decision to increase interest rates.

“We’re confident, however, the rise won’t make too much of a difference particularly against the very low rates we have seen over recent years and households should therefore not feel the need to panic.

“There are still many attractive offers available for borrowers in the way of fixed rate mortgages and we are of course always happy to advise any individuals who are concerned about the current increases and the impact this may have on their financial situation.”

The Bank of England rate rise – the first in three years - came as new figures showed prices are rising at their fastest rate for ten years with inflation reaching 5.1 per cent.

The Bank has a duty to keep inflation to 2% or lower and acted despite the rapid spread of the coronavirus Omicron variant and the uncertain economic outlook for 2022.

Mitchell added: “We will be watching eagerly to see what happens next. It is likely that further modest increases in interest rates will be needed in the coming months to help the Bank of England achieve its 2% inflation target.

“With this in mind, families already feeling the pinch ought to be prepared for tougher times ahead and we would urge all individuals to undertake a review of their personal finances at the start of the new year.”

For more information about Q visit  https://www.qfinancialservices.co.uk/

.


Finance Business News - Cheshire based Clarion Wealth Planning has appointed a new compliance director to enhance the company s dedication to its clients.


Financial planning company appoints new compliance director

Finance Business News - Cheshire-based Clarion Wealth Planning has appointed a new Chartered Financial Planner. Ella Davies has joined the team at Alderley Edge after 11 years at another North West firm. She said I chose Clarion because of its professionalism.


Clarion Wealth Planning appoints new Chartered Financial Planner

Finance Business News - Angela Fishwick of Unify Credit Union said, people can get themselves into a spiral of debt when turning to buy now, pay later services which are currently not adequately regulated meaning they are not carrying out affordability checks and credit checks.


Credit union issues warning ahead of Christmas to avoid Buy Now, Pay Later

Finance Business News - Like many couples, the pandemic made Howard and Sylvia Glass from Manchester reassess their priorities.


How Clarion gave us a second life and brought our family together again

Finance Business News - Accountancy Cloud is an award-winning London-based accounting firm on a mission to be the number one finance partner for startups. It provides online accounting, R amp D credits and CFO services for businesses wanting to grow. The organisation has overseen some of the fastest growing brands in the UK.


Building a predictable, data compliant pipeline

Finance Business News - Credit Unions across Greater Manchester held an awareness campaign to start a conversation with members of the public about their financial wellbeing.


Credit Union campaign aims to improve Mancunian's financial wellbeing






Ten Times Ten

Analytics, Modelling & Business Intelligence Specialists