Martin Lewis has issued a warning to anyone with a mortgage.
The Money Saving Expert founder has said that there will be a 'huge payment shock' coming for everyone with a mortgage and has dated exactly when it will fall on households. He has assured people that he is working with banks and the government to try to find some fixes before the worst of the crisis hits.
Speaking on his Martin Lewis Podcast, he told mortgage holders that they can expect the shock change in spring when interest rates peak and mortgage borrowers come off their previous fixed terms. He said: " Those who already have mortgages are gonna face ‘huge payment shock’ when their current mortgages end and they’re moved onto far higher rates."
