Worried about higher interest rates?

ReutersNews

Hi

A survey out today from the Money Advice Service shows that almost a fifth of people with mortgages say they would struggle to cope with an increase in interest rates.

Does that sound familiar to you? If so Reuters would like to speak with you for a feature on debt, interest rates and the recovery. Please email [EMAIL="uk.economics@reuters.com"]uk.economics@reuters.com[/EMAIL] to find out more.

Many thanks!

Reuters UK economics team

michaels

Perhaps they would like to talk to me, fixed low rate mortgage, money in the bank, can't wait for rates tonrise so I can make something risk free on the turn....oh hang on that doesn't make nearly such a good story.....

mayonnaise

shortchanged!
shortchanged?
hello-o?

There's a bloke from Reuters here who wants to talk to you.

officeuk

I cant wait for them rise!

wotsthat

ReutersNews wrote: »

A survey out today from the Money Advice Service shows that almost a fifth of people with mortgages say they would struggle to cope with an increase in interest rates.

If c2.5 million mortgages are held by people who'll struggle to cope when rates rise they won't be that difficult to find.

Just ask around the office.

I believe there will be a lot of noise when rates increase but barely a blip in the measures used to determine people's struggle such as arrears, repossessions and Sky subscription numbers.

caronoel

officeuk wrote: »

I cant wait for them rise!

Have you tried Viagra?

DiggerUK

The speculation that central bank rates might rise, alongside the constant hints from the powers that be about 'considering rate rises when the situation justifies' is the best subterfuge since Patton's ghost army in WW2.

The banks who hold those mortgages, are also the institutions who are sitting on a mountain of toxic debts that they are hiding. The 'stress testing exercises' we hear about, will have revealed such poison in the banking system.
Last thing the central banks, or TPTB want, is the spittoon kicking down the road. For now the toxic debts are safely locked away and controlled.

Any bankers who would be put under if rates rose should stop worrying. It isn't going to happen, because it can't be allowed to happen. You're too big to fail.
However you mortgage holders should be very worried, banks can charge you what they like. You're too small for TPTB to care.
..._

wymondham

I'm not sure Carney will ever raise them. He's good at talking about it though...

caronoel

wymondham wrote: »

I'm not sure Carney will ever raise them. He's good at talking about it though...

I dont see a case for him raising them for at least another six months.

The wise men at HPC are furious that he hasnt pushed them up already.

ruggedtoast

If only there were some journalist I could talk to somewhere who could lay bare my humiliating financial situation to the world.

I would particularly like to talk about how absolutely f()cked I would be if interest rates go up. Preferable there would be a picture of my frowning face while I clutch my pale sad looking children to my breast as we all worry about the future and what dismal failures we are.

Does anyone know of such a journalist?

Bantex_2

caronoel wrote: »

I dont see a case for him raising them for at least another six months.

The wise men at HPC are furious that he hasnt pushed them up already.

Meanwhile, people are taking on bigger and bigger debts for housing.