BusinessPostCorner.com
No Result
View All Result
Thursday, June 5, 2025
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

Mortgage costs to rise for 3 million, says Bank of England

June 27, 2024
in Business
Reading Time: 1 min read
A A
0
Mortgage costs to rise for 3 million, says Bank of England
ShareShareShareShareShare

The Bank found that about one third of mortgage holders in the UK, more than three million, are still paying rates of less than 3%.

These will mostly be people who arranged mortgage deals before the Bank of England started to increase interest rates in late 2021.

These mortgages are now expiring, and the Bank said the majority of fixed rate deals will finish before end of 2026.

For the typical household, monthly mortgage repayments are forecast to increase by around £180, or around 28%.

However, for around 400,000 households, monthly payments could jump by 50% or more.

Despite this, the amount of people struggling to pay their mortgage is still expected to stay below levels seen after the 2008 global financial crisis.

“The overall share of households who are behind in paying their mortgages remains low by historical standards,” the Bank says.

The report comes after three major lenders began reducing mortgage rates following hints of a summer interest rate cut by the Bank of England.

This week, HSBC, NatWest and Barclays have all cut the cost of fixed-rate home loans for new deals.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Euro 2024 driving supersize TV sales, say Currys and John Lewis

Next Post

Centrist leaders seek to appease Giorgia Meloni at EU summit

Next Post
Centrist leaders seek to appease Giorgia Meloni at EU summit

Centrist leaders seek to appease Giorgia Meloni at EU summit

SEC Challenges ETF Status of Proposed Staked Solana and Ether Funds

SEC Challenges ETF Status of Proposed Staked Solana and Ether Funds

June 1, 2025
Europe cuts interest rates as Trump’s tariffs loom

Europe cuts interest rates as Trump’s tariffs loom

June 5, 2025
Elon Musk urges Americans take action to ‘kill’ Trump tax cut bill

Elon Musk urges Americans take action to ‘kill’ Trump tax cut bill

June 4, 2025
Tax Strategy: Provisions of the House tax bill the Senate is most likely to scrutinize

Tax Strategy: Provisions of the House tax bill the Senate is most likely to scrutinize

June 2, 2025
Tech news: BDO announces B AI strategy

Tech news: BDO announces $1B AI strategy

May 30, 2025
Accountants on IRS and PwC layoffs, accounting students and more

Accountants on IRS and PwC layoffs, accounting students and more

June 5, 2025
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

Bitcoin Price Prediction: Trump ETF Filing Fuels Speculation – Will Trump Add to BTC National Reserve?

Bitcoin Price Prediction: Trump ETF Filing Fuels Speculation – Will Trump Add to BTC National Reserve?

June 5, 2025
Donald Trump and Xi Jinping held phone call on Thursday, Chinese state media reports

Donald Trump and Xi Jinping held phone call on Thursday, Chinese state media reports

June 5, 2025

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!