Bank of England predicts 3 million households will see an increase in mortgage payments

Millions of households in the UK are set to experience an increase in their mortgage repayments over the next two years, according to the Bank of England. The financial policy committee has predicted that around 400,000 homes could see “very large increases” of more than 50%. The rise in interest rates, which have reached a near two-decade high of 5.25%, is part of the Bank’s efforts to control…

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