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Legal & money

mortgage interest increase.

(2 Posts)
Marmite32 Mon 17-Jan-22 20:17:29

We had a letter from our building society last week to say that because of increased interest rates our mortgage repayments will be increased.
Thank G-d we only have a small mortgage, but our eldest daughter lives in the SE and is struggling to pay.
Does this apply to all interest (ie Bank of England ruling) or specific to mortgages?

rosie1959 Mon 17-Jan-22 20:22:50

Not particularly specific to Mortgages although rates are still pretty low
Many people with mortgages have fixed terms so not immediately affected