Jeremy Hunt talks about mortgage and interest rates
Mortgage lenders are increasing the cost of new home loans at the same time as the fixed rate deals of more than one million buyers are due to end.
The high cost of meeting home loan repayments means that almost 500,000 Britons are likely to miss a payment in the next six months.
The figures are based on estimates by Eligible – the AI financial communications company which works with a number of banks.
It says that some 5.4m Britons cite mortgage payments as a ‘significant’ cause of financial related distress.
At the same time, some 670,000 home buyers have missed a mortgage payment…
