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You still need the signed Sheriff letter. Require to provide two completed (fillable PDF is best) copies of both EJ-150D and EJ-150G (notice of levy to both debtor and the bank) forms. Finally, you need two copies of EJ-152 (Memorandum Of Garnishee for the bank) form.
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Regarding interest rates, the theme matches with economic growth and inflation - 'lower for longer'. Internet marketing June MPS, the Bank now expects interest rates to rise a much slowly. This links for you to the Banks cuts to GDP and inflation estimates. The June MPS forecasted interest rates to rise 3.1 % over another two years, up of your then current level of 3.0% to 6.1% by the end of 2012.