Britain’s Mortgage Crisis!
Patrick Boyle On Finance
00:00
The Impact of the Interest Rate Squeeze on Borrowers
The interest rates squeeze will, of course, be distributed differently through society. Borrowers who haven't paid off much of their mortgage can be expected to take a bigger proportional hit. For borrowers under the age of 35, the hit from higher repayments is expected to be around 4.5%. This compares to around 2.5% for those aged 55 and older. The rise came after public sector net borrowing reached £20 billion for May.
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