'Our mortgage may now go up by less than £125 a month'

Quick Summary:

The BBC hears from borrowers and savers about how the cut in interest rates will affect them.

When the interest rate on his mortgage went up from 2.1% to 5%, his monthly repayments increased by £1,000.

He welcomes the cut in interest rates, and hopes they continue downwards in time for when his mortgage is up for renewal.

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Article Details

Category: Business

Markets: United Kingdom

Topics: Interest Credit Mortgage Card Says Rate Savings Month Rates

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-07 @ 11:18:20 (5 days ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 786 words

Reading Time: 5 minutes read

Sentences: 32 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BBC Business

News ID: 26094149

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About BBC Business

Main Topics: Business

Official Website: bbc.co.uk

Update Frequency: 8 posts per day

Year Established: 1922

Headquarters: United Kingdom

News Last Updated: 9 hours ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +0:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #43

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