How are you being impacted by the rise in interest rates?

[SleepDreamThinkHuge]

For me my energy bills are already high have doubled within the last 2 years. And now I will have to pay around £250-£300 extra a month when my new deal starts soon which is significant.

It seems everyone is being impacted. Even renters. In my circle, I have heard people having to pay £300+ a month extra in rent due to demand.

If you have a mortgage do you think you will need to sell up soon? How will you find the extra money? If you are renting how will you find the extra money and what things will you cut back on?

All of those things yes. It's shit

Ive noticed the many number of houses that are going up for sale in my area. It makes me so angry - people should have gone to prison for what they've been allowed to put innocent people through.

Our mortgage is going up BUT we didn’t stretch ourselves to buy initially and have got the balance owed down over the last 15 years. So we could afford another few rate rises until it actually became a problem. Still, I have a bit of an issue with any expensive debt so am cutting all other spending to try and repay the balance

Luckily we managed to get a fix last month at 4.5% - previous 5 year fix was 1.9% 😭

It’s a stretch, we have teens so food prices have also hit us quite hard as they eat a lot. Also shit services have meant we have had to pay for things that would previously have been NHS.

My mortgage will soon be going up by around £400 a month. However, I have lived in fear of interest rate rises for years, so made sure we could afford a rise of up to 10% when we took the mortgage out. We won't have to make any changes or sell up or anything, but I would rather have saved that money!

There’s hardly any properties coming onto the market round here! I thankfully fixed my mortgage rate for 5yrs as the rates started to go up. Rental prices are crazy, I’d be paying about 45% of my net income to rent the same property.