An Edinburgh property specialist has claimed houses are still flying off the shelves despite mortgage rates hitting a 12-year high in recent weeks.
The interest rate on a standard five-year fixed rate mortgage has exceeded six percent for the first time since 2010 thanks in part to the new Westminster Government’s mini-budget last month.
The Bank of England said: “Higher interest rates make it more expensive for people to borrow money, encourage people to save and, overall, mean that people will tend to spend less.”
