A million households will be paying an extra £6,000 per year in mortgage costs by the end of 2026, the Bank of England has warned. Rising interest rates, hiked to tackle inflation, is increasing the pressure on mortgage holders and businesses. But in its report, the BoE said that while borrowers may struggle with rsising […]
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Rishi Sunak has signalled he is willing to overrule independent review bodies recommendations for public sector pay rises, provoking fury from trade unions who say millions will be left even worse off. The prime minister said he will block public sector pay rises if they are considered unaffordable because they could set off a “wage-price […]
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Conservative MPs fear the mortgage rate time bomb will cost them the next election because their government is blind to the impact of the “interest rate catastrophe”. The cost of mortgages have surged following successive interest rate rises and the Bank of England is predicted to hike them even higher this week – from 4.5% […]
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