We are rapidly starting to see what a “mortgage bombshell” might look like. Thousands of Londoners have been warned they could pay more than £10,000 a year extra if interest rates rise to six per cent.
These predictions follow the mini-budget delivered a week ago today, when the Chancellor slashed taxes, precipitating days of market mayhem. Interest rates were already expected to climb to combat inflation, but not necessarily this high or this fast.
