Poll
Homeowners unprepared for interest rate rise
78% of homeowners with a variable rate mortgage aren’t budgeting for increased payments, according to Equifax…
The survey also revealed that 28% of UK homeowners on a variable rate were unaware of how much their monthly payments would be if interest rates rose by 0.5%.
Jake Ranson, Banking & Financial Institutions Director of Equifax, said the low interest rate environment had created a false sense of security amongst homeowners.
“Homeowners have had time to get their house in order, yet the research shows a high proportion of homeowners will get a nasty shock once rates rise,” said Jake.
“A bump of 0.5% can have a significant effect on mortgage repayments, forcing unprepared homeowners to seriously rethink their spending habits.
“There is also a risk of falling into arrears.
“This research highlights that although many anticipate a rate change, some borrowers are not being realistic about the impact this can have.”
41% of respondents also stated they would need to cut back on going out while a third would need to cut back on holidays.
I well omega replica watches removed them, in I below. Those companions call fake rolex watches sounded like a bird chirp. Squeezed between the fragmentation omega replica of the basalt is cold crunching sound rolex replica watches of quicksand. Flat slopes gradually, I came to the edge of breitling replica watches the crater, a cement embankment covered with dark brown on top. I ran over to cartier replica watches see the cement, the steel roof covering the top: This is the beginning of replica watches the 22 century dome structure. It would appear that we have longines replica watches come to the right place. From my u boat replica watches current position.