Thousands of UK households will start losing £500 a month from December | Personal Finance | Finance
Thousands of households across the UK will be £500 worse off every month from now until the end of 2027 due to soaring mortgage costs.
The Bank of England has warned that mortgage repayments could soar for around 4.4 million households over the next three years.
This includes £500 per month hikes for the mortgages of around 420,000 households by 2027, according to the Bank’s Financial Policy Committee (FPC).
It is expected that around 31% of all mortgages – or 2.7 million people – are set…
