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Evening Standard
Evening Standard
World
William Mata

Would-be homeowners giving up on dream amid fears interest rates will soar

Interest Rates Bank of England Halifax Virgin Money
A think tank said that for a homeowner with a £140,000 mortgage, rates rising to 5% could mean monthly payments increasing by around £190 (Anthony Devlin/PA) (Picture: PA Archive)

Prospective home buyers have shared how they have abandoned their plans and decided to continue renting property amid fears interest rates could soar.

Some experts are predicting that interest rates may have to rise to as high as 6%, which would saddle homeowners with thousands of pounds more in mortgage payments per year.

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