The think tank also noted that a period of higher interest rates will create 'winners' and 'losers', with some people able to benefit from the increased rates
The think tank also noted that a period of higher interest rates will create"winners" and"losers", with some people able to benefit from the increased rates.More than five million households could see their annual mortgage payments rise by an average of £5,100 between now and the end of 2024, a leading think tank has warned.
Affected households in London will see the biggest increase, with average payments projected to rise by £8,000 over this period - more than twice the level of the £3,400 increase experienced by households in Wales. "Households across Britain are currently living through an inflation-driven cost-of-living crisis as pay packets shrink and energy bills rise," said Lindsay Judge, research director at the Resolution Foundation.
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Annual mortgage bills to rise by £5,100 for 5mn UK households, study shows\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
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