Client understands impact of interest rate rises on their mortgage payment
Updated
Client understands impact of interest rate rises on their mortgage payment is a Driver of Elevation Goal 3: Safeguarding clients’ best interests, mitigating risk
Data based on responses to the following question, asked in the Client review form
"What would happen to your mortgage payment if your lender’s interest rates increased today?"
Possible responses
- My monthly payment wouldn’t change until the end of my fixed rate term
- My monthly payment wouldn’t ever change
- My monthly payment would increase
- Not sure (High Risk Response)
Client understands impact of interest rate rises on their mortgage payment Score
Proportion of respondents answering “My monthly payment wouldn’t change until the end of my fixed rate term”, “My monthly payment wouldn’t ever change”, “My monthly payment would increase”
