We’d like to hear from people in the UK whose mortgage rates will rise next year, and what they are doing to be able to afford the extra costsThe Bank of England governor, Andrew Bailey, warned repeatedly this week against speculation that the base interest rate of currently 5.25% would be coming down soon.About 55% of UK mortgages have been moved onto a higher interest rate since borrowing costs started to rise in December 2021 – although many homeowners on fixed mortgage deals are yet to be hit: another 5m mortgages are expected to be repriced by 2026. Continue reading…
Source : theguardian.com
Read more…UK homeowners: if your mortgage costs will rise soon, how are you preparing?
