Preparing for Interest Rate Rises

Preparing for interest rate rises In a scenario where... Monthly repayment: Mortgage: £180,000 Lender rate: 4.0% £900.45 Base rate:0.5% However, if the base rate rises... Base rate: 0.75% Monthly £923.59 repayment: Base rate: 1.0% Monthly £947.04 repayment: Base rate: 1.5% Monthly £994.82 repayment: Base rate: 2.0% Monthly repayment: £1043.77 Base rate: 2.5% Monthly £1093.84 repayment: Base rate: 3.0% Monthly £1144.98 repayment: Base rate: 3.5% Monthly £1197.17 repayment: Money saving tips to help you prepare for interest rate rises Bathroom SAVE £100 Find out how you can get PER YEAR 'water wise' search for Thames Water Wisely Fully load your washing machine Take shorter Tum off the tap when brushing your teeth showers Fx any leaking taps Lounge Switch to energy savlng lightbubs Tun appllances off at the wal Tun Ilghts off when you're not In the room SAVE £80 PER MONTH Simple actions like that can save you £45-80 per year If you currently pay for a television package, consider changing to Freevlew Kitchen Make a shopping list and save £720 a year by not throwng away food Get on the right mobile phone tariff using sites like Billmonitor or speak to your provider SAVE £720 PER YEAR Spare Room Gym memberships now cost an average of £368 You'll be amazed at how much Do you really use your membership enough to Justify the cost? money gets frittered away on things you don't need or use. Make use of a budget planner so you can really see where your cash Is golng SAVE £368 PER TEAR Travel If you only use a car intermittently or for short journeys then consider joining a car club. People who travel less than 6,000 miles a year could save up to £3000 compared to owning their own car - enough to cover a 2.5% Interest rate SAVE £3000 PER YEAR Cycling is a great way to save money and keep fit. Many employers take part In the cycle to work scheme, which wll help with the cost of purchasing a blke. Ask your employer If you're ellgble Bourt IOU UK Raport peoduced by Trajectory, April 2004 "Figuren zourcna uring - www.moneyadvicenervica.ceguk/an/toola/mortgage-calculator Bathroom ecure thamawater.co.uk/waterwinelyinde.htm- lonngu www.anengyanvingtrust.ceguk.Electricity/Producta-and-sppliancen | england loveloodhatewrante.com/node/85| www.bilmonitorcom - pare loonu www.moneya dvicservica.orgak/un/toola/budgut-planner | www.bbe.couk nawaluk-25567976 | wwwmonayavingaspert.com/dealalchap-gym-membeahipinafrilla| Drire www.citycarchubco.uk |www.cyclenchema.co.uk the Money Advice Service