Mortgage holders were ready for hike, says survey by Finance News Bulletin

Published: 17/05/07

Mortgage holders anticipated last week's interest rate trek, according to a new customer survey by Lloyds TSB Corporate MarketsThe financial services supplier's consumer barometer for April found that mortgage holders prepared themselves for the monetary policy committee's decision to lift interest rates And they are bracing themselves for yet more bottom rate hikes, with 80 per cent thinking that by this time next year the UK's interest speed will be higher than its current heightCommenting on the survey, Lloyds TSB Corporate Markets chief economist Trevor Williams said "attractive much everyone" predictable last week's interest rate hike

"For consumers, forewarned is forearmed and the impact is likely to be much less than if the rise came out of the blue," he supposedThe customer barometer suggested that mortgage holders were "unlikely to be wedged off guard" by increases in mortgage repayments The Building Societies friendship warned mortgage holders not to panic because of the interest speed hikeHowever, those with variable speed mortgages would be hit with higher repayments, director-general Adrian Cole supposed

If they find it difficult to repay their mortgages as a result of the rise, they should seek help, he additional"Not paying your mortgage can put your home at risk," he warned, adding that mortgage lenders desire to avoid this, so borrowers could expect a "sympathetic response"nowadays's Most Popular Results Mortgage Enquiry Form Need Life Insurance ------ Mortgages - in order Mortgages - Home ------ Financial armed forces - HomeNone of the information on this website is intended to endorse any specific mortgage manufactured goods or provide mortgage advice

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