July 2017

The media is full of stories about when base rate will rise following the results of the General Election and the move towards Brexit.

Looking behind the scenes, current indications suggest that a rise of perhaps 0.25% could occur in the next few months, although the economic scene, both in the UK and further afield is changing so rapidly that nothing is certain. Even the Bank of England is sending out mixed messages!

Our advice for this month continues to be to lock into a fixed rate for up to five years to avoid any unexpected rate increases in the next few years.

And now for something completely different...

As the Island’s economy improves, more people are showing interest in buying a holiday home in France, and it is surprising how little a goodsized family home with a swimming pool will cost.

Mortgage rates are very competitive, ranging from 1.85% to a maximum of 2.65% with innovative options to cap, or to fix, for terms up to 25 years. Funding can also be arranged by way of equity release on a Jersey property, avoiding any worries about exchange rate fluctuations.

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To view the current interest rates please refer to the monthly bulletin by clicking here.