I'm OK mortgage wise. Even with the latest increase, my mortgage will still be less than I was paying in rent 15 years ago when I bought my house. I do feel sorry for some of the kids I work with who've had to take out massive 30yr mortgages just to get on the property ladder, often coupled with absolute rip off Government first homes loans. Some are facing huge increases. I accept that mortgage rates have been much higher in the past, but in those days you could buy a house for 2.5x salary, so monthly payments were substantially lower and a smaller percentage of wage.
I don't have any savings. However, if I did, I doubt I'd be concerned about interest on them. If I had savings it would mean I was bringing in more than enough money to live on, so would already be in a pretty comfortable position.
