Bank of England says millions of homeowners will be paying up to £220 more per month by end of yearNearly 1 million UK homeowners will be forced to shell out at least £500 more a month to cover mortgage payments by the end of 2026, as borrowers suffer the “consequences” of rising interest rates, the Bank of England has warned.Forecasts released on Wednesday showed that of the 4 million homeowners expected to roll on to new mortgage contracts over the next three years, the majority will be paying up to £220 more per month to cover the mortgage by the end of this year due to the difficulty of finding contracts with comparable rates. Continue reading…
Source : theguardian.com
Read more…Mortgages to cost 1m borrowers extra £500 a month by 2026, Bank warns
