Over One Million to Face Increased Mortgage Repayments

On May 1, 2012, in News, by Lewis Alexander
  • Are you one of the million plus people in the UK facing increased mortgage repayments?

  • Do you think you will struggle to make ends meet with increased mortgage repayments?

News in the domestic financial mortgage industry reports that over one million UK homeowners are set to face increased mortgage repayments from today onwards.

Banks have been putting the reason for rate increases down to the general state of the economy and the fact that in a weak economy this is more of a requirement for them!

NatWest, The Royal Bank of Scotland (RBS) and Halifax are just a few of the mortgage lenders that intend to increase rates, these increases are expected to be no more than 0.5%, some being lower!

Other banks intending to follow suit are Clydesdale, The Co-Op Bank and Yorkshire Bank.

Even though the Bank of England has kept base rates at a low, it seems that the banks have made the decision to impact a great number of existing customers.

  • This 0.5% rise is expected to increase the average monthly mortgage repayment by approximately £55 on a mortgage of around £200,000.

Responsible lending is being policed by the financial authorities and moving mortgage provider may become difficult for those who have fallen into mortgage arrears or possibly have negative equity in the property they own.

  • If you are struggling with mortgage arrears and other forms of personal debt, these financial  problems need dealing with urgently as they don’t go away without a decent sized lottery win!

Personal debt consolidation companies can help you to clear mortgage arrears and restructure your personal unsecured credit accounts so that the mortgage can be prioritised as it should be and other creditors can get a share of what you have spare!

There are a number of debt consolidation options that can assist people in need of financial help due to mortgage arrears.

  • If you think you would benefit from tailored financial help then please call our personal financial helpline today, it’s free from a land line and our lines are open 24 hours a day / 7 days a week.
  • Call 0800 018 6868
  • Mobile call costs may vary!
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