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Daily Mirror
Daily Mirror
Business
Levi Winchester

Should you buy a house now - or wait? Pros and cons explained as interest rates rise

Interest rates and house prices are both rising - adding more pressure to first-time buyers who are so desperately trying to get on the property ladder.

The Bank of England last week hiked its base rate to 2.25% - its highest level in 14 years - with analysts fearing they could go as high as 6% next year.

If you have a tracker mortgage, your monthly repayments will move in line with the base rate - meaning you’re paying more for your mortgage.

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