FreedomWide- DEBT CONSOLIDATION, LOWER MONTHLY PAYMENTS, CONSOLIDATE DEBT

You can’t argue with the facts. Around 1.4 million of us have a fixed rate mortgage deal coming to an end this year. No question about that. But the more debatable issue is whether our finances will be able to withstand higher mortgage payments after our fixed rate has ended.If you have a fixed rate deal that’s on its last legs, I wouldn’t be surprised if you’re concerned. Some press articles have suggested that many borrowers will struggle to meet higher mortgage repayments when their fixed rate expires. This is what’s known as ‘payment shock’.One Million Borrowers At RiskFigures from the Financial Services Authority (FSA) suggest as many as one million borrowers could be at risk of falling into arrears and are vulnerable to possible repossession of their homes.Read Full Article

Tags: mortgage, payment shock

This entry was posted on Thursday, February 21st, 2008 at 6:28 pm and is filed under Mortgage Education, Mortgage News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.