Holders of homeowner
Peter Cowell, a spokesperson for Click n go
He recommended that they take advantage of this situation, remarking: “What people should do is try and make overpayments to a level they can afford, so that their balances will be coming down in line with reduced property prices.”
In addition, he advised
While rates are low at present, it is likely that they will rise again in the future, Mr Cowell explained.
Meanwhile, Moneyfacts has revealed that homeowners who took out a fixed-rate deal in April or May of 2007 are set to see repayments increase by as much as £600 a month when their current agreement ends.