A FAMILY facing a steep rise in their monthly mortgage costs have explained how they managed to keep repayments down.
Rebecca and Phil Pearce, both 42, are saving nearly £200 a month after a shock rise in rates.
Like millions of others, the couple are coming off a fixed deal which they locked in two years ago when interest rates were at record lows.
Until last month, Rebecca and Phil were paying just 1.05% on their £160,000 loan on their three-bed terraced house in Bournemouth.
When they started looking for a new deal, the best they could find was 5.55%.