Loan rate rise fears

Around 3.2 million people are concerned over developing debt problems, should the Bank of England (BoE) raise interest rates on Thursday, according to the independent debt advice company Debt Free Direct. Andrew Redmond, chief executive of Debt Free Direct, said that consumers could struggle with mortgage or home loan repayments, should rates rise above their current level of 4.75 per cent. Also commentating on the effect of an interest rate rise on people’s personal finance, Peter Bolton Kin