Successive interest rate rises, combined with soaring bills, are causing concern among borrowers worried as to whether they will be able to afford their mortgages, a Anthony Ward Thomas survey of 2,000 respondents finds.
With the Bank of England (BoE) widely expected to raise interest rates again on Thursday for the seventh time since December, those who don’t have fixed-rate mortgages, or whose fixed-rate mortgages come to an end over the next 12 to 18 months, are concerned as to how much their home loan will cost them.
In August, the BoE raised the base rate by 50 basis points, lifting interest rates to 1.75%.
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