Home owners threatened by rising interest rates
Activer le mode zenMyra Butterworth
"In its Financial Stability Report, the Bank says that two thirds of borrowers are now on floating interest rate deals and the proportion is rising.
"If rates go up next year, as some analysts suggest they will to combat rising levels of inflation, these home owners will see an increase in their monthly mortgage payments.
"More could find themselves unable to afford their repayments, the Bank's report warns.
"Often, people automatically end up on their lender's standard variable rate once the term of their initial fixed-rate deal has expired and they are unable to find an alternative affordable loan elsewhere."
Pour citer cette ressource :
"Home owners threatened by rising interest rates", La Clé des Langues [en ligne], Lyon, ENS de LYON/DGESCO (ISSN 2107-7029), décembre 2010. Consulté le 08/10/2024. URL: https://cle.ens-lyon.fr/anglais/archives/archives-revue-de-presse/home-owners-threatened-by-rising-interest-rates