The Bank of England revealed a sharp rise in people falling behind on their home loan payments today, as its long run of interest rate hikes pushed up mortgage arrears.
Official figures from Threadneedle Street showed that the value of outstanding mortgage balances that are behind on payments in the final quarter of 2023 hit £20.3 billion, up by over 50% year-on-year and 9% from the third quarter of last year.
