Mortgage ‘ticking timebomb’ I warned of has exploded, says Martin Lewis

Martin Lewis told ITV’s Good Morning Britain: ‘I can’t see this government bringing in a mortgage rescue package, even if it wanted to do so.’ Photograph: Jonathan Brady/PA

The consumer champion Martin Lewis has said the mortgage “ticking timebomb” he warned the UK government about last year has “exploded”.

Lewis said on Tuesday that if interest rates were going to be high over three or four years, people were going to have to readjust their finances.