Business · 8 hours ago
2.3m Households Face Higher Mortgage Bills as Rate Rise Looms
Robin Sones, CC BY-SA 2.0, via Geograph / Wikimedia Commons
More than 2.3 million UK households face sharply higher mortgage payments as their fixed-rate deals end in 2027. The Bank of England is widely expected to raise its base rate from 3.75% to 4% on Thursday after inflation climbed to 3.5% in September. Markets expect up to four quarter-point rises over the next year, adding pressure on families already facing higher energy and food bills.
Reported by The Guardian · How we write briefs