Tuesday 6 December 2016

Charlie Weston: Interest hike for struggling homeowners is madness

Published 22/07/2010 | 05:00

BANKS and building societies in this country are at risk of becoming the sow that eats her farrow.

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That is the only conclusion one can come to when considering that so many people are struggling to pay for their mortgages, yet lenders are planning to hit these very homeowners with higher loan repayments.

A large number of lenders are planning to push up standard variable mortgage rates by the end of the summer.

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