Mortgage prisoners facing crippling interest rates costing an extra £386 a year risk losing their homes
Hundreds of thousands of “mortgage prisoners” are facing rates of more than 8 per cent, an increase of hundreds of pounds a year, after the Bank of England raised interest rates for the 11th consecutive time. An estimated 195,000 homeowners are trapped paying sky-high rates as they cannot remortgage, according to the Financial Conduct Authority. … Read more