Charlie Weston: Homeowners with trackers need to plan for rate hike
Published 19/08/2010 | 05:00
HOMEOWNERS with tracker mortgages are the lucky ones, as they are enjoying a period of unnaturally low interest rates at the moment.
However, it would be a mistake for people with these products to do nothing else but sit back and enjoy their current good fortune.
At the start of this month the European Central Bank (ECB) left its key interest rate at 1pc. It was the fifteenth month in a row that ECB rates have remained unchanged.