Jodi, 42, a teacher from Kent, is among millions of homeowners who are yet to be affected by the higher cost of borrowing, as their fixed deals at much lower interest rates are set to expire this year.
“Our mortgage payments will go from £1,400 per month to £2,100,” Jodi said. “Our wages are stagnant and the cost of living is ever increasing. We are both public sector workers – my husband is a police officer – so have had real-term pay cuts for years. How are we supposed to find an extra £700 per month?
