Tag Archives: interest rates

Preparing for interest rate rises [infographic]

posted by in Budgeting, Debt, Economy, Money maximising, Money saving Leave a comment

With plenty of talk about interest rates going up in the near future, it’s important to know what steps you can take to prevent any increases in your mortgage payments tipping your finances over the edge.

We recently covered the basics of mortgage interest rate rises, telling you how this could affect you or your debt solution and tips on preparing for the changes.

And now research from the Money Advice Service (MAS) has found that almost half of households (47%) in the UK would struggle to cover their mortgage payments if there was a rise in interest rates.

To help explain things clearly and offer ways to save money, they’ve put together a helpful graphic to explain what could happen if the rates increased.

Continue reading »

Tags