Consumer champion Martin Lewis has said that a mortgage ticking time bomb that he previously warned about is now exploding. The MoneySavingExpert.com founder told ITV’s Good Morning Britain that he had previously highlighted a “mortgage ticking time bomb”.
He continued: “And I’m afraid that time bomb is now exploding.”
Mr Lewis said that if interest rates are going to be high over three or four years, people are going to have to readjust their finances. He said he could not see a mortgage rescue package being brought in.
