MONEY POLL: How worried are you about mortgage costs?
GB NEWS:
Due to high interest rates, thousands of British households have been saddled with soaring mortgage repayments in recent years
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Thousands of Britons on fixed-rate mortgages are preparing to pay more in the near future as their deal comes to end, according to new research.
Analysis from budget management app Nous claims that 350,000 households, who were on a low-interest rate deal over the last five years, will likely see their repayment costs soar as the fixed rate runs out.
Since the Covid-19 pandemic, the Bank of England has raised the base rate to historic highs in an effort to bring down inflation, however mortgage holders have had to bear the brunt of this decision.
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