Homeowners are being urged to prepare for ‘more serious cost rises’ when they come to remortgage following news inflation had grown by a new 40-year high of 9.4%.
The ninth increase in inflation in as many months will add further pressure on households battling with the cost-of-living crisis – but it will also have an impact on our mortgages.
The Office for National Statistics (ONS) announced this morning inflation, as measured by the consumer prices index (CPI), had risen by 9.4% in the year to June.
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