If you have a mortgage that is a ‘Base Rate Tracker’ your mortgage repayment will go up by approximately £25 per £100,000 of the mortgage interest owing.
You will not pay more if you have a ‘fixed rate’ mortgage, although when the fixed rate is finished your repayment may increase.
If you have savings, there will be savings plans with slightly better rates. If the Base rate increases even more then subsequently the interest rate will increase more.
Is your mortgage due for review, give us a call today to see how we can help 01473 213312