With the cost of borrowing likely to rise again, we speak to some of the 1.4m people on variable rates dreading the latest decisionBank of England poised to raise UK interest rates to 5.25%“It’s a bloodbath, that’s the way I’d like to describe it,” says John*, a father of two struggling with the ever-increasing interest rate on his home loan.He is one of the 1.4 million people in the UK on a variable rate residential mortgage, who have watched the monthly payments soar after the Bank of England raised the base rate 13 times in a row to 5%. Continue reading…
Source : theguardian.com
Read more…‘It’s a bloodbath’: the UK homeowners on variable mortgages fearing another rate rise
