www.mortgageinformationcentre.co.uk

Click HERE for today's mortgage updates







Tuesday 2 July 2013

Interest rate rise of 2% could cause 'significant distress' - BoE

Mortgage borrowers could struggle with monthly repayments if interest rates rose by as little as 2%, a Bank of England report has warned.

It continued: “One indication is that households accounting for 9% of mortgage debt would need to take some kind of action — such as cut essential spending, earn more income (for example, by working longer hours), or change mortgage — in order to afford their debt payments if interest rates were to rise by just one percentage point.

http://www.mortgagesolutions.co.uk/mortgage-solutions/news/2277586/interest-rate-rise-of-2-could-cause-significant-distress-boe?wt.mc_ev=click&WT.tsrc=Email&utm_term=&utm_content=Interest%20rate%20rise%20of%202%25%20could%20cause%20%27significant%20distress%27%20-%20BoE&utm_campaign=26%2F06%2F13%2015.13%20Stories%20and%20conv%20starters&utm_source=Daily&utm_medium=Email

No comments:

Post a Comment