Struggling households unlikely to feel much let-up from rate cut, but help available
National Debtline responds to interest rate cut
Posted August 7, 2025
Steve Vaid, Chief Executive at Money Advice Trust, the charity that runs National Debtline, says:
“The cut to interest rates will help people on tracker mortgages, and those looking to buy or remortgage. But for many struggling households, the bigger – and more worrying – picture is in the backdrop of this cut. Inflation, driven by increases in food prices, is directly hitting people’s pockets, being felt in the weekly shop and stretching some people’s budgets to breaking point.
“With significant uncertainty in the economy, and unemployment on the rise, struggling households are unlikely to feel much let-up as a result of this cut.
“However, there is help out there. I’d encourage anyone worried about their finances to speak to a debt advice charity, like National Debtline, as early as possible. You can also contact your lender. While it can feel difficult, they are required to offer you support if you’re struggling.”
National Debtline provides free, impartial debt advice. Anyone worried about their finances can get help by visiting www.nationaldebtline.org or calling 0808 808 4000.
