Research by BM Solutions has shown that following more rate movement, eight out of 10 expect rates to settle and end the year at or above 5.75%.
June’s Monetary Policy Committee minutes indicated that another increase is imminent, and a third of brokers questioned believed that the rates would be at the 6% barrier as we move into 2008.
Iain Williamson, head of key accounts, BM Solutions, says: “Following the release of June’s MPC minutes last week, there’s a strong expectation that we’ll see another rise in July.
“This research suggests that brokers don’t expect this to be the last move in 2007.
“They’re clearly being realistic about the market and are best placed to advise their clients in light of any changes.
“Whatever the direction or extent of rate rises, brokers can be sure that that we’ll continue to support them with market leading products and five star service.”