Research in recent months has looked at what impact the recent increase in interest rates has had on UK homeowners. Over 1,000 UK homeowners were surveyed and it was noted that while it was the first increase for just 37% of UK homeowners, this climbed to 78% for those aged between 25-35.
Overall, the financial implications remained minimal across the board and market confidence remains high for the majority of homeowners, who have not been put off from a future purchase from the increase. But while the market as a whole remains unfazed by this increase, those in younger age brackets have been more deterred from climbing the ladder after experiencing their first rate increase.
London was home to the highest number of homeowners seeing a climb for the first time at 63%,