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Forecasts produced by the Office for Budget Responsibility alongside the Budget suggested homeowners will have to prepare for the biggest hike in interest payments since the financial crisis.
The average British homeowner has been on the mortgage ladder for 13 years - but 49 per cent have never switched their deal, according to Barclays.
Forecasts produced by the Office for Budget Responsibility alongside the Budget suggested homeowners will have to prepare for the biggest hike in interest payments since the financial crisis.
The founder of Gloucestershire-based The Mortgage Brain has shared an insight into what homeowners need to know if they are looking to remortgage.
Country: Australia Source: Roy Morgan Single Source (Australia), average interviews per 3 month period April 2007 â May 2021, n=2,674. Base: Australians 14+ with owner occupied home loan. New research from Roy Morgan shows an estimated 677,000 mortgage holders (17.3%) were at risk of ‘mortgage stress’ in the three months to May 2021. This period encompassed the end of the JobKeeper wage subsidy (end of March 2021), low community transmission of COVID-19 and only a few ‘short and sharp’ lockdowns and border closu...