Many lenders are waiting to see if the interest rate changes this month before deciding what to do with their secured home loan deals, it has been claimed.

Andy Pratt, chief operating officer of mortgage adviser alexander hall, suggests that there is "uncertainty" surrounding traditional secured loans such as mortgages.

But this could be set to change following the Bank of England's monetary policy committee decision on Thursday, he predicts.

Consumers looking to take out a loan ahead of the interest rate decision could be wise to enquire now about secured home loans to avoid any upcoming upheavals.

"A lot of people are waiting to see what happens with the monetary policy committee this week," Mr Pratt observes.

"The base rate change - if it does go down this week - could have a massive impact on the choice of products," he adds.

But with the last three decisions almost unanimously supporting the decision to keep rates at their current level of 5.75 per cent, the Bank could opt to fix the rates for another month this week.ADNFCR-1287-ID-18346822-ADNFCR

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