UK Mortgage Rates and Inflation: What's Next for Borrowers?
TL;DR
UK inflation remained at 8.7% in May, the same rate as April, due to rising prices for flights and second-hand cars. The Bank of England is expected to raise interest rates by 0.25% to 4.75% on Thursday, but some suggest they could rise to 5%. The Bank has been raising interest rates since the end of 2021 to curb inflation, which is four times higher than the target rate of 2%. However, rising interest rates have led to concerns over loans, particularly mortgages, with homeowners facing large increases in repayments.
- Interest rate rise expected after UK inflation shock BBC
- Sectors Upclose: Spiking mortgage rates increase risks for British banks Reuters
- Analysis | How to Dodge the Coming UK Mortgage Tsunami The Washington Post
- Bank of England Rate Decision: Unlucky 13 Looms for Mortgage Payers Bloomberg
- It really would be heartless to let inflation take hold, says STEPHEN POLLARD Express
- View Full Coverage on Google News
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