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What if interest rates rise?

April 26, 2017interest rates Rise

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What if interest rates rise?

3 Answers

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Each Key Facts Illustration contains information showing how much more you would need to find for your monthly repayments, should interest rates increase by 1%. Information on ‘what if interest rates rise’ is available in the following Financial Services Authority leaflet: mortgage_whatif.

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Each Key Facts Illustration contains information showing how much more you would need to find for your monthly repayments should interest rates increase by 1%. Information on ‘what if interest rates rise’ is available in the following Financial Services Authority leaflet: mortgage_whatif.

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The mortgage for share to buy is a variable rate ‘Tracker’ mortgage, and while this means you can take advantage of falling rates, it also means that you pay more if rates go up. It is therefore important to consider the impact of a rise of, say, 1% in base rates on your mortgage. To take an example, the following table demonstrates the impact of an increase in base rates of a quarter, half, three-quarters and a full one per cent, on two borrowers – one with a £60,000 share in a mortgage; the other with a £75,000 share.