Homeowners struggling to meet monthly repayments after fixed rate mortgages end

You have to feel sorry for homeowners at this given time because according to the latest news they are struggling to meet monthly repayments after fixed rate mortgages end.

It is said that around 3rd of a million homeowners who took out such safe mortgage deals five years ago are having major problems to face a combined bill of £1.02bn, now that is a worry on the whole scale of things.

Being a homeowner myself this is quite worrying, the report says that around 340,000 five-year fixed rate mortgages were taken out in 2003 and research from Mortgage Monitor analysts suggests that these homeowners are now having problems meeting their monthly repayments.

These fixed rate deals that will expire this year will see monthly repayments rocket by more than 35%. For more in depth information on this matter please visit here.

Are you a homeowner facing these issues?