The lender questioned brokers on their predictions for changes in the base rate. The results show 11% are still banking on an increase next month (June). However, the majority of brokers expect to see base rate creep up from its historic low in the autumn, as 38% predict the change will come in September or October.
Only 5% of brokers do not expect to see any change to base rate at all in 2011.
Just over a quarter (27%) of those questioned expect the Bank of England base rate to be at 0.75% by the end of 2011 but 41% expect it to double from its current rate to 1.00%.
Looking to the year ahead, the majority of brokers think that there will be a slow and steady increase in rates. Around 29% believe that the base rate will be at 2.00% by the end of 2012, compared to 11% predicting that it will be at 3.00% by December 2012.
Over three quarters of brokers believe that any increase in the base rate will boost the amount of business they write.
Commenting on the research, Ian Wilson, head of sales for Halifax Intermediaries said: "Planning for base rate rises is a difficult balancing act for brokers at the moment. Whether it happens next month or right at the end of the year, those that are already planning for it have a chance to get ahead of the game.”
