Home Repossession Won’t Increase With Interest Rates

If interest rates were to rise then the number of home repossessions would not increase as well according to a Bank Of England official.

Many analysts including Richard Banks, the chief executive of UKAR had stated their believe that interest rates rising could cause a “tsunami” of house repossessions.

“You can see if you don’t do something about it, you can see a tsunami,” he said. “If you don’t get into the hills you could get drowned by this. If you don’t manage this properly it could get very messy.”

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed (Scotland)

Refinance

Bankruptcy