Whilst talks of interest rate rises keep rumbling on behind the scenes, many homeowners are unprepared for the impact that any rate rise could have. With a recent survey indicating that over a third of homeowners would be in severe difficulties if the interest rate rose to 2.5%. Although seemingly a rise in rates isn't imminent, just over 10% of people have prepared for making higher payments.
So what is the current outlook for interest rates? Initial predictions that a rise would happen early on in 2015 appear unlikely as a slowdown in growth and lower than expected inflation rates have pushed any talk of an interest rise to later on in the year..