Millions of UK households face higher mortgage costs as the Bank of England is expected to raise the base rate from 3.75% to 4% on 5 November. This decision follows a rise in UK inflation to 3.5% in September. Consequently, over 2.3 million households are anticipated to experience a sharp jump in payments by 2027 as they transition from fixed-rate deals to more expensive options following the MPC vote this Thursday.
UK Cluster Comments