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Singles 'not interested'

Single people in the UK are more likely to ignore the decrease in interest rates that is predicted to occur in the coming months, according to Intelligent Finance (IF).

The monetary policy committee is set to make a decision concerning interest rates this month, yet 54 per cent of singles claim they will not be taking notice, whereas couples are increasingly worried about the impact that a change would have.

Couples are concerned about the effect that the change in interest rate will have on their mortgages, the Ipsos MORI research on behalf of IF showed.

Cammy Amaira, director of sales for IF, said: "It seems that the image of the care-free single is certainly true where mortgages are concerned.

"But regardless of whether you are single or in a relationship, making your money work harder for you by choosing the right mortgage should be a priority."

Ensuring you are financially stable by taking out a loan or consolidating debts may be a way to ward against interest rate fluctuations.

The Bank of England raised interest rates five times before August 2007, after which it cut interest rates as a result of the global credit crunch.

See how much you could save with a debt consolidation loan from Lombard Direct.

© Adfero Ltd

08/01/2008 14:03:55

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