Tag Archives: interest rate rise

How prepared are you for an interest rate rise?

Are you one of the many homeowners that might be affected by a rise in your mortgage rate? 

It’s been a long time coming, but after almost six years many experts believe an interest rate rise is coming some time soon. Since March 2009 the Bank of England rate has stood at a record low of 0.5%, having been as high as 4.5% just five months earlier in October 2008.

The Centre for Economics and Business Research (CEBR) says that it could mean as much as £119 added to the average monthly mortgage payment across the country, with figures in the south-east much higher.

Do you know how an interest rate rise might affect you?  Watch this video to see what some people said when we went on to the streets to ask for some thoughts.

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