|
|
 |
|
 |
 |
PRESS ROOM |
 |
|
| |
Could another interest rate rise
make your mortgage payments
unaffordable? |
 |
| |
December 2006 |
|
|
| |
HOMEOWNERS can work out how another
rise in interest rates will affect
their mortgage payments, with
a new online calculator launched
today. |
|
|
| |
The Loan Calculator
on www.publicangel.com has been
launched in time for this Thursday's
meeting of the Bank of England
monetary policy committee. |
|
|
| |
If the committee
doesn't put interest rates up
this week, many analysts expect
a rise in the New Year. |
|
|
| |
Public Angel's Nilesh Gohil said
everyone with a mortgage should
work out how bad their repayments
could get.
|
|
|
| |
He said:"With
another interest rate rise potentially
coming up, it's definitely worth
knowing the worst case scenario
of any increase". |
|
|
| |
"This
calculator helps people work out
now if they can afford to stay
with their current mortgage, or
change to one with lower monthly
repayments. All you need to do
is enter how much you've borrowing
and at what interest rate. Then
you can increase the interest
rate to estimate what your new
repayments will be".
|
|
|
| |
There
are several new calculators on
the website, which allow homebuyers
to answer these questions: |
|
|
| |
Can
you afford to buy the house?
Can you afford the mortgage payments?
If the interest rates increases,
can you still afford the mortgage?
How much Stamp Duty will you need
to pay?
How much deposit do you need to
find? |
|
|
| |
The calculators are available
at www.publicangel.com/calculators. |
|
|
| |
|
|
|
|
|
 |
| |
|
|
|
|
|
|
