Saturday, June 2, 2007

Impact of IR risers

Personal account

After years of soaring prices, homebuyers are suffering a bout of vertigo, says Ian Cowie If base rates rise by another quarter percentage point next Thursday, then about 2.4m homebuyers who are still paying standard variable rates will face monthly costs 41 per cent higher than they were four years ago. For those who find percentages perplexing or lacking in impact, the additional cash cost on a typical 25-year £100,000 mortgage will be £188 per month - that's an extra £2,250 a year to find out of taxed income.

Posted by bufferbear @ 10:55 AM (344 views)
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