Mortgage warning as three million households set to see bills jump, says Bank of England

MORE than three million households are still set to witness hikes in their mortgage repayments over the next two years.

Around 400,000 of these households will see “very large increases” of more than 50%, according to The Bank of England’s Financial Policy Committee (FPC).

AlamyThe Bank’s latest report showed that most households have already had an increase in their mortgage rates since borrowing costs began rising at a rapid pace in 2022[/caption]

This is the latest blow...