Three million households in Britain will experience higher mortgage payments by 2026, with around 400,000 facing over a 50% increase. Typical households may see their payments rise by around £180/month.
The Bank of England reported a rise in renters falling behind on payments to 16.5%, up from 15.7% a year ago, linked to significant rent hikes impacting low-income households who plan to deplete savings further to cope.
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