An estimated 350,000 UK households who locked in rock-bottom five-year mortgage deals in winter 2020 face sky-high rates when they come to renew in the coming months, new analysis shows. Why will so many people be hit by a jump in mortgage rates? What will the increased mortgage rate be? “If you can, consider overpaying on your mortgage while the cheaper rate is still in place. The Bank of England base rate, now at 4%, remained at 1% or below from February 2009 until July 2022.

Source: The Times September 28, 2025 08:50 UTC