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?
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100 Mortgages has raised this point and why spend like we do with the economy in the state it is? Interest rates feared to increase to keep inflation down, house prices dropping, oil prices extremely high and food prices increase thanks to the cost of fuel.
Have you bought the new iPhone 3G today and if so, does it not worry you with budgets getting tighter?
If your in a contract already then we can understand that you can get the iPhone 3G for free on a price plan £45 or more and its only £99 for the iPhone this time.
Some families will need this £99 in the months to come and the £45 a month will be near impossible to find, so looking at the demand for the iPhone 3G today, we guess inflation may keep rising and the consumer is not that worried about the future.
New buyers will have to keep up this contract for 18 months, even if they have no money.
Via 100 Mortgages
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