A month in repayments. Somehow, were supposed to spend less and find £750 extra a month to pay for that. So, you know, for many families, it is a terrifying situation. You know, if you have young families like ourselves who have been swayed into the Housing Market by government, whos advertised help to buy as an affordable scheme, right . When things become unaffordable, you cant simply turn around and say, thats your problem. A rise of 0. 25 Percentage Points would take the Bank Of Englands base rate to 5. 25 the highest since april 2008. For someone with an average Tracker Mortgage of £200,000, that would mean a rise of more than £23 a month. And for around 800,000 homeowners due to renegotiate their fixed deal in the second half of this year, it could mean an even bigger increase in their monthly repayments. Whites, good afternoon. But at this estate agent in salisbury, they say there are still more people wanting houses than there are properties available. A supply and demand is
let s talk to fran boait, director of campaign group positive money. thank you forjoining us here as we approach the decision by the bank of england due in 57 minutes time to be exact. just on the programme we had rebecca, a mother of five, who kindly shared her story about how she is struggling, but we are potentially going to see these interest rate increases. isn t this the lesser of two evils to avoid runaway inflation? my organisation has been outside runaway inflation? my organisation has been outside the runaway inflation? my organisation has been outside the banking - runaway inflation? my organisation | has been outside the banking today demonstrating and making two demands, firstly they don t raise rates. this is the wrong tool for tackling inflation and it will deepen the cost of living crisis as your listeners and viewers are saying, and secondly, the government