Since the rates went up 1% since december its costing me an extra 145 euro a month, obviously I'd prefer to have that in my pocket but it hasn't had much of an affect in that...
1: I didnt know about the 66 euro per month mortgage interest relief I would get when calculating how much I could affod to repay
2: I had factored in a 1% increase in rates when calculating how much I could afford
3: Salary has incrased more than expected since I first took out mortgage.
4: Have changed my car to a diesel which is saving me a about 180 per month on fuel costs.
So all in all the increase has been quite manageable, it hasnt impacted my quality if life in anyway. I think a 4% base rate should be ok too, if we go to a 5% base rate very quickly then I will look to pay off some of the mortgage using my SSIA and also try to find a cheaper mortgage rate if possible and re-mortgage. Also may rent out a room although I would hate to have to do that.