Five million UK households to face higher mortgage costs

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More than five million UK households are projected to face higher mortgage repayments by the end of 2028, up from nearly four million previously estimated, according to the Bank of England. This increase indicates potential financial pressure on a significant portion of UK homeowners.

More than five million UK households are expected to face higher mortgage repayments when they refinance over the next two years, according to the Bank of England's latest Financial Stability Report. The Bank estimates that just over five million borrowers will see their monthly repayments rise by the end of 2028, an increase from its previous projection of nearly four million. The post Five million UK households to face higher mortgage costs appeared first on PropertyWire.