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Advisers should prepare borrowers for interest rise

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Advisers should prepare borrowers for interest rise

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Researchers have suggested that as many as 30,000 borrowers could be forced into arrears if the Bank of England were to increase the base rate.

The Bank of England are not planning to raise the base rate before the national unemployment rate falls to 7% – which may not happen until 2016, however mortgage advisers are being told to prepare their clients for the possibility of increased monthly repayments as early as they can.

Read more about how advisers can manage the expectations of their clients at Mortgage Solutions

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