Martin Lewis issues mortgage 'payment shock' warning as banks consider aid measures
Money Saving Expert founder Martin Lewis has warned anyone with a mortgage that they’re facing a massive ‘payment shock’ when their fixed deals come to an end - or if they’re on a tracker. Millions of families around the country are enduring financial problems due to soaring interest rates for their home repayments.
"We all know interest rates go up and mortgage costs go up. There are a huge number of people whose fixes will be ending next year, and whose fixes are ending right now and they will all be seeing huge rises.” Mortgage lenders should support struggling customers in a range of ways that suit their needs, the City regulator said. The Financial Conduct Authority has published guidance setting out options that firms can use to support their customers to manage their monthly mortgage payments amid the cost-of-living squeeze.
Sheldon Mills, executive director of consumers and competition at the FCA, said: “Most borrowers are able to keep up with their mortgage payments and should continue to do so. But if you’re struggling to pay your mortgage, or are worried you might, you don’t need to struggle alone. Your lender has a range of tools available to help, so you should contact them as soon as possible.”
Belgique Dernières Nouvelles, Belgique Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Martin Lewis explains how to make the most of your heating this winterMartin Lewis has explained how to make the most of your heating as the UK braces for a cold snap.
Lire la suite »
Martin Lewis issues air fryer advice to those ditching ovens and microwavesThe Money Saving Expert urged households to think careful about their kitchen appliances as the cost of living crisis continues and energy bills sit at an all time high.
Lire la suite »
Martin Lewis’ MoneySavingExpert shares how to get £138 of No7 products for £41SHOPPERS can get themselves £138 worth of beauty products for just £41, Martin Lewis’ MoneySavingExpert has revealed. The offer at Boots includes 10 No7 skincare products and could save…
Lire la suite »
Martin Lewis says Boots shoppers who buy £41 box get £140 of Christmas giftsMartin Lewis says Boots shoppers who buy £41 item will get £140 of Christmas gifts aff
Lire la suite »
Martin Lewis reveals simple way to check cost of running an air fryer and ovenMARTIN Lewis has explained an easy way to check the cost of running appliances such as air fryers, microwaves and ovens. Millions of households have been hit with energy bill hikes and household bu…
Lire la suite »
Martin Lewis warning over keeping heating on as temperatures fallIt has long been debated whether it is better keep it on or turn it on when you need it
Lire la suite »