The Government has unveiled three new key measures to help families struggling to meet increased mortgage payments in the cost of living crisis.
Chancellor Jeremy Hunt announced the plan to help homeowners after a summit with high street bank bosses, but he resisted giving into calls to offer a major support package to mortgage holders, amid fears it could risk further fuelling inflation.
It's expected that hundreds of thousands of borrowers could face payment difficulties over the next year after rapidly rising mortgage interest rates over recent weeks. Thursday's announcement by the Bank of England that the base rate would rise from 4.5% to 5% is expected to fuel further rises, piling more misery on homeowners.
