Particularly worrying, however, was the finding that 15 per cent of all homeowners would see their spare

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"Particularly worrying, however, was the finding that 15 per cent of all homeowners would see their spare cash flow turn negative. In other words, they wouldn't be earning enough money to cover the mortgage, let alone buy food."

Luke who has recently graduated from university has made a financial plan to invest in a small apartment in four years. Luke said: "The increases in the interest rate do not seem to affect my financial planning at all as I do not have any interest to pay at least within the next three years."

Comment on the validity of this view.