Homeowners still feeling the strain as interest rates held
National Debtline responds to the latest interest rate decision.
Posted June 20, 2024
National Debtline has responded to the Bank of England’s decision to hold interest rates again at 5.25%.
The decision comes a day after the Office for National Statistics revealed the rate of inflation fell to 2 percent in May.
Jane Tully, director of external affairs at the Money Advice Trust, the charity that runs National Debtline, said:
“As interest rates remain steady, many homeowners are feeling the strain of significantly higher mortgage repayments. For those nearing the end of fixed-rate deals this year, the challenges are far from over.
“I’d encourage anyone facing difficulties paying their mortgage to reach out to their lender for support – they can offer more support than many people think.
“And if you are worried about your mortgage, rent or any other bills, our advisers at National Debtline can help and talk through your next steps.”
National Debtline provides free, independent, expert advice and can be contacted on 0808 808 4000 or via www.nationaldebtline.org
