Mortgage warning as bills could jump by £7,300 A YEAR if interest rates hit 6%

HOMEOWNERS are being warned that mortgage bills could rise by £7,300 a year if interest rates hit 6%.

Around, 1.8million mortgage customers are on fixed deals which are set to end in 2023, according to UK finance.

Interest rates are now expected to rise to 6% next year, following the chaos of Chancellor Kwasi Kwarteng’s mini budget.

This sent the pound plummeting against the dollar to a low of $1.03 yesterday...