About four million UK households will face higher mortgage payments next year, the Bank of England has said, with the typical payment up by £250.
Businesses would also be under "significant pressure" owing to rising prices and borrowing costs, it added. Anyone coming to the end of their fixed-rate deal and looking for a new one, or first-time buyers taking out their first mortgage, have seen these loans become much more expensive than they had probably expected or planned for.
Variable or tracker rate mortgages can change at any time, usually in response to decisions made by the Bank's Monetary Policy Committee on the benchmark Bank rate. Meanwhile, property prices have fallen for three months, the sharpest downturn since the global financial crisis more than a decade ago.
Source: Loan Digest (loandigest.net)
Don’t increase the rates then Bank of England
Now this is a real concern. Which needs to be addressed seriously.
Millions should call Madame Guillotine
Yeah just keep paying into the matrix Ponzi scheme. By the time you actually own your property you'll be 95 years old. Living the dream.
Says Bank of England that controls interest rates. Why don't they just say we are putting your mortgage rates up. And we don't know how to control inflation.
Fight the system and buy a solar generator and portable solar panels and reduce your bills.
Good luck, strikers! In fact, they will have it even worse: no job!
pure twoddle - come on try being honest BBC
My mortgage interest has already gone up 20% in 3 months! Thieving bastard banks and Tory scum government.
Interest rates still historically low. Money has been cheap for over 10 years. Suck it up buttercups.
Aye - thanks Kwarteng and Truss….they should be jailed!!
That's called paying for inflation, green energy policies, and a proxy war in Ukraine. Did anyone think the money for these things was going to be free? This is just one of the ways you will pay for them.
And the bankers get thousands more. Wonderful stuff. I hate this government.
Absolutely disgusting!!! I have had to pay 0% rates for 14 years and have only made £250,000 profit in 10 years!!! Now I can't afford to pay my mortgage!!! ToriesOut
How can anyone afford this?
Half of them voted Tory and deserve all they get.
We are in a cost push inflation scenario. The BOE have no idea how to deal with it and just respond by following their old strategy of putting up interest rates, it will not work, we do not have excess funds in our bank to spend!!
That’s ok all the gammons will just blame Harry and Meghan for the rise.
Bloody strikers
Bbc was say £500 last month. Scaremongering again.
At least they will own there homes instead of dead money on rent tho they
The people blaming Liz Truss 🤣 Media muppets
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank of England to stress test risks in non-bank financial markets\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Source: FT - 🏆 113. / 51 Read more »
Source: i newspaper - 🏆 8. / 89 Read more »
Source: MENnewsdesk - 🏆 23. / 69 Read more »
Metro Bank: regulator brings challenger bank to heel\n\t\t\tLet our global subject matter experts broaden your perspective with timely insights and opinions you\n\t\t\tcan’t find anywhere else.\n\t\t
Source: FT - 🏆 113. / 51 Read more »
Source: TheSun - 🏆 64. / 61 Read more »
Source: NUFCTheMag - 🏆 124. / 51 Read more »