According to Karen Darby, chief executive of price comparison website Simplyswitch, homeowners will be in despair upon hearing the news that a rate rise later this summer is forecast.
A number of analysts have already suggested that a further rate rise will lead to a number of repossessions, and Ms Darby seems to support this view.
"The prospect of yet another rise will send shudders up the spine of Middle Britain," she told the Express.
"Home owners will be left wondering when it will end."
Rises in interest rates not only affect mortgages, but also debt servicing payments and credit card bills.
Homeowners struggling with affordability issues in the current economic climate would do well to sell their properties to National Homebuyers and then rent them back to free up much-needed capital. Company Director Chris Newman says: "We have been heralding the certainty of increased financial stress among homeowners for many months now.
"The effect of interest rate rises so far will be seen for many months to come, as people find alternative ways to fund their lifestyle. Further interest rate rises will not only prolong the effect but add it. Homeowners, even those who are moderately comfortable right now, will find themselves in severe stress as the interest rate rises continue - as we predict - above seven per cent within 12-months."
National Homebuyers is the UK's leading fast purchase property company, handling enquiries from thousands of UK homeowners each week who need to sell their property quickly. Operations Manager David Harber says: "The number of people contacting us because they need a financial solution or need to 'downsize' now accounts for over 60 per cent of our business - a 125 per cent increase over the last two years."
Further information is available at www.nationalhomebuyers.co.uk/
