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Evening Standard
Evening Standard
World
David Bond and Jonathan Prynn

Half a million facing mortgage timebomb as London homeowners hit with 0.5% interest rate rise

London Bank of England Inflation Monetary Policy US Federal Reserve

More than half a million homeowners in London and the South-East face a “mortgage ticking time bomb”, new analysis has revealed.

With the Bank of England’s Monetary Policy Committee (MPC) announcing a historic half a percentage point rise in interest rates on Thursday, 565,000 people in the capital and surrounding region face paying hundreds of pounds more each month as cheaper fixed-rate deals expire.

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