Mortgage rates are falling but borrowers are still feeling the squeeze – a finance expert explains how to cut your repayments: Cast Of Thousands/Shutterstock Around 5 million households have seen their mortgage interest rate change since the Bank of England base rate started to rise in late 2021. Over the course of the 2023 alone, …
Bankruptcy is spiking among UK borrowers – but there are debt relief options if you are struggling financially: SB Arts Media/Shutterstock UK households have one of the highest debt levels in the world. Steadily increasing in the last two decades, the average total debt per household (including mortgages) is £65,619 as of August 2023. This …
Mortgage lenders are relaxing their rules — here’s why that could be risky for borrowers: Budgeting to buy a home. Tero Vesalainen/Shutterstock The Bank of England increased its base rate yet again in May 2023 to 4.5%, pushing borrowing costs to the highest level in almost 15 years. More than 6 million UK households will …