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LATEST NEWS & EVENTS Interest rate rise 'would create homeowner problems'  Residential property conveyancing could be affected if the Bank of England chooses to suddenly hike interest rates. There is, according to independent mortgage adviser John Charcol, also the risk that homeowners could encounter financial problems and face the threat of personal insolvency. Ray Boulger, senior technical manager at the company, said: "There is undoubtedly a factor whereby the longer interest rates stay very low and the more people get used to low interest rates, the more of a shock it will become when they do start to go up if they go up too quickly." Rates have been held at 0.5 per cent for nearly two years and the latest meeting of the Monetary Policy Committee (MPC) once again saw them remain at their historic low. However, there appears to be a growing appetite for a rate rise among the committee members, with three of the nine voting to increase the cost of borrowing. Two MPC members called for a 0.25 per cent increase, while long-term advocate of hiking interest rates Andrew Sentance voted for the base lending rate to be increased to one per cent. Posted by Gaby Hamerton 
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