Real Estate

Bank of England warns of more mortgage pain to come for homeowners


Suburban residential properties and distant city high-rises in Ruskin Park, a public green space in Lambeth, on 11th June 2023, in London, England.

Richard Baker | In Pictures | Getty Images

The Bank of England warned already struggling homeowners could see monthly mortgage repayments rise sharply in the coming months, but stressed households today are not nearly as indebted as they were in the run-up to the global financial crisis.

U.K. households are currently being impacted by a cost-of-living crisis and higher interest rates as their fixed-rate mortgage deals expire.

In the BOE’s Financial Stability Report, published Wednesday, the central bank said its model shows that over 2 million…


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