Homeowners have been warned that Britain is heading for a mortgage-rate “disaster” as the average five-year fixed-rate deal jumped above 6 per cent for the first time since November.
Mortgage holders were told that fixed-rate deals could soar to 7 per cent this summer, with experts urging the Bank of England and Rishi Sunak’s government to rethink the use of “out of control” interest rates to tame inflation.
