Danger of Rising Interest Rates
Rising interest rates could have a catastrophic affect for property owners. With current rates at an all time low, many property owners have been lured into a false sense of security. Therefore, they may be caught aware in the damage that interest rates can cause. Interest rates
Rising Interest Rates Affect on Mortgages
Your mortgage is subject to the whims of interest rates. As & when they rise, you will pay more each month. Can you afford the extra payments? Many property owners are already stretched to the limit. Should interest rates begin to soar like expected, you will need a feasible plan in place to help you manage the situation. You cannot afford to be complacent.
Rising Interest Rates & Repossession
A rise in interest rates could increase your monthly mortgage payments. If you are unable to meet the new payment on your mortgage, you will fall into arrears. Typically, after two or three missed payments banks will begin repossession proceedings. This could result in losing your property. At best, it will result in a stressful court battle against your lender. At worst, you could lose your home.
Help for Rising Interest Rates
At Immediate Bank Claims, we are ahead of the pack on rising interest rates. Working behind the scenes, we have put precise plans in place in the eventual event of a rise in interest rates. We can help property owners to prepare for the rise in interest rates. We can protect your home. We can protect your buy-to-let properties. What will a rise in interest rates mean for your mortgage? Call us today for independent free advice.
Rising interest rates, can you afford to be complacent?
Rising Interest Rates in the Press:
This is Money’s calculator for the effect of rising interest rates on mortgage payments: