{"id":137485,"date":"2023-06-22T12:00:04","date_gmt":"2023-06-22T05:00:04","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/this-is-ruining-peoples-lives-homeowners-hit-by-uk-mortgage-crisis-speak-out\/"},"modified":"2023-06-22T12:18:42","modified_gmt":"2023-06-22T05:18:42","slug":"this-is-ruining-peoples-lives-homeowners-hit-by-uk-mortgage-crisis-speak-out","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/this-is-ruining-peoples-lives-homeowners-hit-by-uk-mortgage-crisis-speak-out\/","title":{"rendered":"\u2018This is ruining people\u2019s lives\u2019: homeowners hit by UK mortgage crisis speak out"},"content":{"rendered":"


\nBorrowers with expiring fixed-rate or tracker mortgages face difficulties, with some saying they will be forced to sell their homesFor Steven, a media consultant from Guildford, and his wife, the remortgaging nightmare is only beginning. \u201cPeople like me can\u2019t sleep at night \u2013 it\u2019s horrendous,\u201d he says. \u201cThe mortgage for our three-bed cottage is up for renewal in December. We\u2019ve geared our lives around the low interest rates of the past 13 years. I am the only earner in the family. If interest rates hit 6%, I\u2019ll have to find an extra \u00a31,480 per month \u2013 well over double what we pay now. That is totally catastrophic for our family, absolutely terrifying.\u201dThe UK is experiencing the sharpest, fastest rise in interest rates since the 1980s, and markets and homeowners are braced for another increase from the Bank of England on Thursday, with an increase of at least 0.25 percentage points from 4.5% expected. Continue reading…
\n
\nSource : theguardian.com
\nRead more…\u2018This is ruining people\u2019s lives\u2019: homeowners hit by UK mortgage crisis speak out<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Borrowers with expiring fixed-rate or tracker mortgages face difficulties, with some saying they will be...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-137485","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-zLv","jetpack-related-posts":[{"id":146600,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-homeowners-have-you-struggled-to-pay-your-mortgage\/","url_meta":{"origin":137485,"position":0},"title":"UK homeowners: have you struggled to pay your mortgage?","date":"July 31, 2024","format":false,"excerpt":"\r We would like to hear from people in the UK who have found it difficult to manage their mortgageThe Bank of England has cut UK interest rates from 5.25% to 5%, the first reduction in over four years. The hope for UK homeowners will be that mortgage lenders will\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":140133,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-mortgage-lenders-will-use-eye-catching-rates-to-compete-for-business\/","url_meta":{"origin":137485,"position":1},"title":"UK mortgage lenders will use eye-catching rates to compete for business","date":"November 2, 2023","format":false,"excerpt":"\r Offers for homeowners may look improved but deals are likely to come with larger product feesBank of England leaves interest rates at 5.25%Next move is likely down \u2013 analysisUK homeowners and buyers can expect a rash of mortgage deals with eye-catching rates but a sting in the tail from\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":138224,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-homeowners-share-your-experience-of-having-a-variable-rate-mortgage\/","url_meta":{"origin":137485,"position":2},"title":"UK homeowners: share your experience of having a variable rate mortgage","date":"July 6, 2023","format":false,"excerpt":"\r We\u2019d like to hear from homeowners in the UK who are stuck on variable mortgage rates, and how interest rate rises have been affecting themWe\u2019re interested to hear from homeowners in the UK who are stuck on mortgage deals with variable rates.Recent back-to-back interest rate rises mean that repayments\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":137918,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mortgages-how-to-cope-as-uk-interest-rates-hit-the-roof\/","url_meta":{"origin":137485,"position":3},"title":"Mortgages: how to cope as UK interest rates hit the roof","date":"June 24, 2023","format":false,"excerpt":"\r Options for homeowners and first-time buyers as they face maelstrom in marketFor Britons buying their first home or chasing a new deal the maelstrom in the mortgage market is the stuff of nightmares, with products being pulled right, left and centre, and no end in sight as the Bank\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":135208,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-homeowners-still-better-off-than-renters-despite-spike-in-interest-rates\/","url_meta":{"origin":137485,"position":4},"title":"UK homeowners still better off than renters despite spike in interest rates","date":"March 15, 2023","format":false,"excerpt":"\r Average monthly cost of owning 3-bed home is \u00a3500 a year less than renting, but the gap is narrowingHomeowners in the UK are nearly \u00a3500 better off a year than renters, according to new research from Halifax.The average monthly cost of owning a three-bed home for first-time buyers is\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":140677,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-homeowners-if-your-mortgage-costs-will-rise-soon-how-are-you-preparing\/","url_meta":{"origin":137485,"position":5},"title":"UK homeowners: if your mortgage costs will rise soon, how are you preparing?","date":"December 12, 2023","format":false,"excerpt":"\r We\u2019d 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%\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/137485"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=137485"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/137485\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=137485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=137485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=137485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}