FEAR OF REPOSSESSIONS RISE WITH INTEREST RATES
As the Bank of England increases its base interest rate to four per cent, the tenth rate rise in just over a year, financial experts are now warning of a significant increase in repossessions as more people fall behind on their monthly mortgage payments.
It is estimated that almost one million households are now at risk of defaulting in the next two years.
I challenged the UK Government to set out what it intends to do to support those currently struggling with climbing mortgage rates amid fears that repossessions will rise significantly in 2023
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