{"id":138289,"date":"2023-07-12T19:37:03","date_gmt":"2023-07-12T12:37:03","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mortgages-to-cost-1m-borrowers-extra-500-a-month-by-2026-bank-warns\/"},"modified":"2023-07-12T19:48:42","modified_gmt":"2023-07-12T12:48:42","slug":"mortgages-to-cost-1m-borrowers-extra-500-a-month-by-2026-bank-warns","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mortgages-to-cost-1m-borrowers-extra-500-a-month-by-2026-bank-warns\/","title":{"rendered":"Mortgages to cost 1m borrowers extra \u00a3500 a month by 2026, Bank warns"},"content":{"rendered":"


\nBank of England says millions of homeowners will be paying up to \u00a3220 more per month by end of yearNearly 1 million UK homeowners will be forced to shell out at least \u00a3500 more a month to cover mortgage payments by the end of 2026, as borrowers suffer the \u201cconsequences\u201d 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 \u00a3220 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…
\n
\nSource : theguardian.com
\nRead more…Mortgages to cost 1m borrowers extra \u00a3500 a month by 2026, Bank warns<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bank of England says millions of homeowners will be paying up to \u00a3220 more per...<\/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-138289","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-zYt","jetpack-related-posts":[{"id":19716,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/homeowners-in-northern-england-most-vulnerable-to-negative-equity\/","url_meta":{"origin":138289,"position":0},"title":"Homeowners in northern England 'most vulnerable to negative equity'","date":"July 14, 2016","format":false,"excerpt":"\r A 10% drop in house prices would see one in 10 borrowers fall into negative equity, warns Moody\u2019s, as Bank of England revises market forecastA 10% fall in house prices would put almost one in 10 borrowers in the north of England in negative equity, credit ratings agency Moody\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":137485,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/this-is-ruining-peoples-lives-homeowners-hit-by-uk-mortgage-crisis-speak-out\/","url_meta":{"origin":138289,"position":1},"title":"\u2018This is ruining people\u2019s lives\u2019: homeowners hit by UK mortgage crisis speak out","date":"June 22, 2023","format":false,"excerpt":"\r Borrowers 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\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":143379,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/imf-warns-boe-over-keeping-uk-interest-rates-high-due-to-fixed-rate-mortgages\/","url_meta":{"origin":138289,"position":2},"title":"IMF warns BoE over keeping UK interest rates high due to fixed-rate mortgages","date":"April 8, 2024","format":false,"excerpt":"\r Risk of declining consumption, house price falls and defaults as tighter policy finally has impactBusiness live \u2013 latest updatesThe high proportion of UK homeowners on fixed-rate mortgages means the Bank of England should be wary of keeping interest rates too high for too long, the International Monetary Fund has\u2026","rel":"","context":"In "Property 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warned: the days of cheap mortgages are over","date":"October 29, 2021","format":false,"excerpt":"\r As interest rate changes are coming \u2018thick and fast\u2019, owners may face big rises in their repaymentsBudget 2021: key points at a glanceBudget calculator: what does it mean for me?Read all our budget coverageThe era of record low mortgage rates looks to be over, borrowers were warned this week,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":426,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/further-pain-for-uae-homeowners-with-mortgage-rate-rises-in-store\/","url_meta":{"origin":138289,"position":5},"title":"Further pain for UAE homeowners with mortgage rate rises in store","date":"December 21, 2015","format":false,"excerpt":"\r \r Home financers are set to come under pressure to raise mortgage costs for the first time since the financial crisis as interbank borrowing rates spike.It 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