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Rate Rise Would Cost Families 500 Pounds a Year
23/08/2011
It has been recently reported that due to the decline of household incomes in real terms, any increase in the rate of is likely to leave millions on the brink of financial disaster.
The Bank of England is expected to leave rates unchanged at the current rate of 0.5%, but if this were to rise to 1% it would increase a typical family's mortgage by £516 a year.
Homeowners aged over 55 years who are concerned about interest rates and would like to know how much money the value of their property could release to increase their income, can find out by contacting therightequityrelease.co.uk for equity release advice.
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