The shift to fixed mortgage rates and the rise in the number of homes owned outright means that while some borrowers face a sharp rise in mortgage payments other homeowners will sit out this interest rate cycle entirely. The most vulnerable group is relatively small, which may partly explain why the Bank of England is having to raise interest rates by more than anyone thought likely a year ago.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.