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How much more difficult will you find it when interest rates rise?

October 23, 2014 3:22 pm Published by Leave your thoughts

A survey conducted by YouGov on behalf of the Council for Mortgage Lenders and based on responses from 2,139 homeowners found 32 per cent currently state they have ‘healthy’ or ‘very healthy’ finances.

However, 27 per cent expect to be either be in ‘serious or slight’ difficulties in three years’ time, up significantly from 18 per cent currently.

via One in four homeowners to face ‘difficulty’ when rates rise – FTAdviser.com.

Phrased another way, the survey indicates that only a third of UK households currently state that their finances are ‘healthy’.

Another third of households then consider their finances to be neither healthy nor unhealthy.

And the remaining third of UK households expect to be in serious/slight difficulties in three years’ time.

If you’re trying to sell your house fast at the moment, then I’d ask you to consider this:

What will happen to house prices in your area within next three years when a third of UK households find themselves in further difficulty meeting their mortgage payments following the inevitable forthcoming interest rate rise?

Will a flood of new houses for sale on your street make the value of your house go up, or push it down further?

If you need to sell your house fast, we’re here for you.

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This post was written by Admin

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