Credit, Collections & Insolvency News
As interest rates continue to increase, mortgage borrowers expect their monthly payments to increase by an average of £617 according to new research by The Mortgage Lender (TML). TML’s recent research found that 80% of homeowners reported being concerned about the effect of rising rates, with 37% being extremely concerned and 43% being somewhat concerned.…
Read more
More than 1.4 million households are facing a steep increase in their monthly outgoings when they are forced to renew their fixed rate mortgages this year according to new Office for National Statistics (ONS) analysis. The research shows that the 57% of fixed rate mortgages coming up for renewal in 2023 are fixed at interest…
Read more
More than a quarter of mortgage holders wouldn’t be able to afford their monthly repayments if they increased by £100 a month, according to new research from Citizens Advice. The research found that nearly half (45 per cent) would be unable to make their payments if they rose by £250 a month. In September, 49…
Read more