Interest rates will affect the average household
Home owners and borrowers were dealt a major blow today when the Bank of England raised interest rates by 0.25% to 5.25%. The current forecasts are for rates to continue to rise to 5.50% or even 5.75% this year. This will of course make mortgage and loan repayments more expensive for millions.
The move will add an extra £16 to the monthly bill of households with a £100,000 mortgage if lenders pass the full rise on to customers.
Added to the cost of the previous two interest rate rises in August and November, mortgage repayments for the typical homeowner will have increased by £47.60 to £722.80.
With the average disposable income in the UK (after paying the Mortgage/rent, bills, food etc.) running at less than £200 per month, this will have a major effect on the lifestyles of many households. Of course it’s not all bad news though, our business opportunity can offer people an alternative to a drop in lifestyle and worrying about the bills. The second income available through the Kleeneze opportunity can easily replace this extra expense and so much more.
January is always a great time to be building this business anyway, with many people struggling to repay their credit cards after Christmas. This latest raise in interest rates will mean more people than ever will be feeling the pressure and looking for a solution, a solution we have. Make sure you are talking to everyone about this fantastic opportunity.