Wildaxe Bullets

We are all in the same boat. We have watched interest rates rise - some pundits are threatening a fall in house prices - cheap money is not as available as it once was. The times are a little uncertain.

A recent article in the Daily Telegraph included a list of things that we might want to consider to help us to "batten down the hatches" and deal with issues of the day. As a service to you, the list is as follows:

1. Try to overpay the mortgage to cut interest costs and reduce the overall term, but check if there are penaties first.
2. Remortgage if you are on the standard variable rate - to reduce monthly payments.
3. Do not take on more debt. (Cash is cheaper).
4. If you really do need more money - make sure your credit rating isd the best it can be, so you will be offered competitve rates.
5. Check your credit record regularly (it might not be right).
6. Take advantage of high savings rates and build up a rainy day fund.
7. Insure your income - in case you are unable to work.
8. Don't bury your head in the sand - get help as soon as possible.