Clients should be largely unaffected by today's decision to raise interest rates from 0.25% to 0.5%, advisers suggest - with one adding he would offer the few younger clients affected "a reality check" if they called panicking.
In common with much of the financial services sector, DFP Solutions IFA Sean Irwin said he was unsurprised by news of the rate rise and stressed it was a case of making sure clients were "educated and not scared". He confirmed he had not sent correspondence to his clients on the subject nor had he received any worried phone calls. Irwin said the only clients really affected would be those in their 20s and 30s who had not seen any inflation hikes in their adult life, and who had recently bought a house and taken out a mortgage on a really low variable rate. If that demographic were wor...
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