Wednesday, May 9, 2007
a rise of 0.5% would spell doom – D.O.O.M.
One in seven could struggle with mortgage payments if interest rates increase by 0.25 per cent tomorrow
More than one in seven could struggle if the Bank of England decides to increase interest rates by 0.25 per cent tomorrow, new* research from online mortgage company mform.co.uk shows. Around 6.5 million people - or 14 per cent - say they will struggle with monthly payments...And the numbers feeling the pain with their mortgage will rise to nearly one in five if rates rise by 0.5 per cent from the current 5.25 per cent to 5.75 per cent, the research says.