We’re interested to hear from homeowners in the UK who are stuck on mortgage deals with variable rates.
Recent back-to-back interest rate rises mean that repayments on these deals are rising each month.
With the Bank of England’s base rate now expected to rise to 6.5% in February next year in some quarters, and some economists having even warned raising them to 7% may be considered necessary to tackle stubbornly high inflation, there looks to be more pain to come.
Much of the attention has been on those coming off low-cost fixed-rate mortgages and moving on to more expensive deals. But some borrowers are unable to do that, and are paying even higher standard variable rates (SVRs).
Share your experience
If you have a mortgage with a variable interest rate, share what your rate is and how holding this product has been affecting you.