How much are interest rates going to go up by.

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Marcus1991 wrote: »

Hi, i'm a first time buyer and Interest rates seem quiet daunting. Speaking to my parents who said they were 12%+ around 1991-1992.

Will this happen again? Or is there a set proceedure to stop it happening again? I could afford (just) for them to go to 10%, but still quiet worrying, or am I over reacting?

Thanks, Marcus.

what they did not tell you was inflation was also high, getting 3 cost of living pay rises a year in some sectors.

A few got into serious trouble but anyone that rode it out came out the other side with their debt inflated away and a bigger pay packet.