It has just emerged that the cost of living has risen to it highest level yet since July 1992.
Global food and fuel processes have rocketed; pushing inflation up to 3.3% said Mervyn King, Bank of England governor.
He warned that it could rise above 4% later on in the year. This is more than double the government’s target.
The eagerly anticipated cut in interest rates now seems a long way away, spelling further misery for home owners.
Sarah Walford of local debt advisers REVIVAL, a part of Cooper Parry LLP says “for those home owners struggling to meet their ongoing credit liabilities, they should seek advice sooner rather than later, as there will be more options available to them.”