National Debtline responds to Bank of England decision to hold interest rates
National Debtline responds to latest Bank of England interest rate decision.
Posted September 19, 2024
National Debtline has responded to the Bank of England’s decision to hold interest rates at 5 percent.
Grace Brownfield, Senior Influencing Manager at the Money Advice Trust, the charity that runs National Debtline, said:
“Millions of homeowners are already under pressure from steeper mortgage repayments and - with interest rates held - many more will face the challenge of significantly higher costs as their fixed rate deals end.
“For people with budgets at breaking point, meeting housing costs is becoming more difficult. With energy costs set to rise next month, the pressure is mounting for people who are already struggling to pay for their essentials.
“I would urge anyone who is worried about their mortgage to contact their lender. Free debt advice services like National Debtline are also here to help.”
National Debtline provides free, independent, expert advice and can be contacted on 0808 808 4000 or via www.nationaldebtline.org
