The increase adds up to a £26bn mortgage rise for homeowners, according to the analysis by the Resolution Foundation thinktank which said nearly a fifth of British households would have to spend more on their housing costs by the end of 2024.
The thinktank said that approximately £1,200 of that £5,100 figure was due to expectations that interest rates would rise more quickly than previously thought because of the upheaval in the financial markets caused by the government’s disastrous mini-budget.
5 comments
I have already signed up with a fixed mortgage for 10 years. Can it be changed too or am I safe for a while?
By then people would have more salaries? Is this an issue?
You will own nothing and be happy
The great reset in full swing ! Anyone still denying this is a thing is certainly in denial !
They don’t want you owning your home or anything for that matter
So, not only will my parents be unable to retire in 11 years like their plan, they won’t be able to finish paying off the mortgage? Why the absolute fuck should I not despise anybody in this fetid, rotting government?
I think if rates don’t go down by the time I need to remortgage in 4 years I’ll just sell up and move to a different country.
I work for a building services firm and that seems to be the plan that a few of the electricians have, move to Australia or anywhere that needs tradespeople.