Interest Rises at the Bank of England
On Thursday 2nd November 2017, the base rate of interest rose from 0.25% to 0.5% - the first hike in 10 years. The Bank of England’s Deputy Governor, Ben Broadbent, added that their rate signal (of two more increases in the next three years) was “not a promise”.
It’s unnerving to see rate changes in periods of economic uncertainty, and Brexit has aggravated these further. However, for businesses that need to purchase assets for continual growth and development, there is a stress-free solution: fixed interest rates and flexible finance.
With banks increasing their interest rates, organisations can be discouraged from borrowing and investing in their business. Companies with existing finance agreements will have less working capital available due to spending more on the increased interest payments.
Baker Leasing are specialists in arranging flexible financial solutions with over 16 years’ experience in the asset finance market. We offer fixed interest rates for the term of the agreement, and 100% tax-deductible payments. This allows you to budget for asset purchases more effectively, meaning easier forecasting and cash flow management.
For peace of mind, contact Baker Leasing to arrange a competitive and flexible financial solution over 1-5 years. We look forward to hearing from you.