[If you’re having problems with rent arrears instead, read our rent arrears article]
After a few years in the doldrums mortgage interest rates are predicted to rise over the next few months (some have already started). What can you do to reduce the financial pain this can cause?
Many people will find their monthly mortgage payments will increase, and with high food and fuel costs, many households are already struggling to cover their priority payments. We recently reported that the number of over-60s who can’t afford their mortgage has jumped by nearly 50% in two years.
Others may be comfortably meeting their commitments at the moment but are worried about the impact of increasing mortgage interest rates on their household.
Today we’ve outlined the existing options available to mortgage holders who are already struggling to make mortgage payments and those worried about the future.