Figures from housing charity Shelter have found that 56% of borrowers would struggle to keep up with their mortgage payments if interest rates rose by 1%.
More worryingly, 11% said they would be unable to pay monthly payments altogether.
Campbell Robb, Shelter's chief executive, said: “These shocking findings show that over half of mortgage holders are living on a…Continue
Added by Mark Williams on October 2, 2012 at 10:00 — No Comments
Average rates across two- and five-year fixed products have crept up, and borrowers on their lender’s Standard Variable Rate should be wary of future rises and look to fix sooner rather than later.
The warning comes after a number of lenders announced hikes to SVR (Standard Variable Rate )rates which come into force on May 1. Analysis has found that the average rate for…Continue
Added by Mark Williams on April 18, 2012 at 14:30 — No Comments
The BBC reports today that consumer group Which? is accusing banks and building societies of putting the squeeze on homeowners who have standard variable rate mortgages.
Which? warns that thousands will be pushed into financial difficulty when interest rates go up
ore than 40% of mortgage borrowers are now on standard variable rates, which…Continue
Added by Mark Williams on June 22, 2011 at 11:00 — No Comments