Latest report on savings

It is widely reported that homeowners are saving less because they need to fork out more for their mortage as the mortgage rate is rising faster than ever. At such, they also have to attend to the rising cost of household bills apart from other things. That is why they are saving less.

Well, for starters, I think it is best for homeowners to have a deal with finance companies when taking up a mortgage where they should get five years or more in fixed mortgage rate. In that sense, houseowners will not need to worry in the short term if interest rates are rising because they can save more now to counteract with the rising of interest rates in the future after five years or more depending on the terms of the mortgage. Normally, one would be able to get at least five years fixed rate of interest from finance companies.

Savings are important to people because it will help people to fall back on savings just in case they need the money in rainy days. I do encourage people to save as it is crucial. If there is no savings, big trouble then.

The house prices right now in the UK is stable. There were speculations about falling house prices. If house prices are falling, it will be nice for people to start looking for a good house at a bargain price. Good luck!