The Bank of England recently announced that they expect interest rates to rise in the next few years. The current Bank rate is just 0.5% however Mark Carney, the Bank of England Governor, said that could reach 3% within three years. Whilst we can't tell you for certain when or by how much rates will rise, our calculator will help you work out how a rise in interest rates might affect your monthly mortgage payments. This is particularly helpful if you are currently on a tracker mortgage or are about to revert to your lenders Standard Variable Rate (SVR).
To use the calculator, enter your figures directly into the corresponding fields & then press 'Calculate'. Your results will appear below the calculator.