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Are you worried about your mortgage payments?

ended 21. June 2023

The Daily Mail are urgently looking for business owners in any sector who are worried about their mortgage payments. In return, your company will almost certainly get namechecked. If that's you (and it will apply to a lot of us), send across your thoughts ASAP, along with any rough data, e.g. “my mortgage payments will be rising by as much as £X per month”. Please also ensure there is a hi-res pic in your Newspage media pack.



 

4 responses from the Newspage community

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Luke Thompson
Director at PAB Wealth Management
I am a mortgage adviser and financial adviser and have recently had to take a new fixed rate on my mortgage. My mortgage has increased by over £350 and this is something that is of concern to me as it cuts into my income month to month and will restrict the money I spend on social expenses.
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Craig Webb
Company Owner at Webb Marketing
I left my salaried job in January this year to focus on my own Digital Marketing business. This may seem risky but I feel I am more secure with 10 clients than 1 employer. Although, as I now work for myself a new mortgage will be harder to come by. My wife (A nurse) and I have 3 mortgages as we have expanded the home over the years to accommodate the 3 teenagers. These mortgages end at different times, but one just renewed taking our total payments from £1200 to £1300 a month. I have offset some of this cost as my commute was an hour's drive each way which I no longer have to fund. I would say that as a family of 5, our food bill increases have been more significant than the mortgage so far.
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John Lamerton
Small Business Author at Big Ideas... for Small Businesses
When my fixed-rate deal ends, the interest on my mortgage will more than double.

As a small business owner, we've seen businesses decimated by Covid lockdowns, hammered by out-of-control inflation, and annihilated by the cost-of-living crisis.

Rising interest rates are simply one more nail in the coffin of the small business owner - and no one's coming to save us. The government's response is to tax small businesses at a greater rate than ever before.

Will the last small business in the UK please turn the light off?
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Stuart Crispe
Founder at Sunny Avenue
Ironically, I started my business to help people with their mortgage and finanical needs, but now I am in need of the help. As I am recently self-employed, I cannot verify my income and my only option is to move to an SVR. It's going to increase my mortgage repayments from £900 to £1800. It's making me re-think whether I can actually afford this venture afterall. There has been absolutely no support from Government, my company has paid a fortune in VAT to ultimately now be in this position with still no support. I have no idea what to do but just keep grafting.