Which? responds to Bank of England leaving interest rates unchanged
Sam Richardson, Deputy Editor of Which? Money, said:
"This latest decision may offer some relief for those around the country struggling with housing costs.
"However, Which? warned this week that around half a million homeowners are set to come off their fixed term deals over the Christmas period, meaning households already under pressure due to the cost of living crisis could see their monthly repayments increase by hundreds of pounds.
"Those concerned about how they will repay their mortgage should contact their lender straight away - and doing so will not affect your credit score. Options may include extending the term of your mortgage, only paying the interest on your deal or taking a temporary payment holiday - and the most suitable will depend on individual circumstances. That's why it's crucial that lenders are available to help customers with appropriate and tailored support."
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Notes to Editors