Interest rates: could you soon face financial ruin? | Money | The Observer
Homeowners who took out a mortgage during the past two years and know nothing other than rock-bottom interest rates could face financial ruin when the Bank of England finally raises the cost of mortgages.
The rate-spoilt generation are "standing on the edge of an absolute abyss", according to Heather Keats of the Community Money Advice debt charity. She said: "This is going to be the most enormous problem for us, because people are simply burying their heads in the sand at the moment."
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