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Many people do worry about what they may do if the Bank of England interest rates rise. Anyone with a loan which has a variable interest rate will expect that the amount of interest that they are paying on their loans to go up. It is realistic to think this as well because most lenders will put their rates in this situation. There are things that you can do to make sure that you can cope in this situation.

Taking out any sort of loan is a big decision and it is well worth thinking hard about whether you really need it or not. It is good to think about whether you need the loan, whether there are any alternatives to borrowing and then whether this is the best loan type for you.

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