RE: UK Households Can Withstand Rates of Up To 5%, BOE Says6 Jul 2022 14:56
5% ?
Can't believe that. I think 2 1/2% is going to cause a great deal of problems for those who have over-leveraged themselves with mortgages.
From a selfish point of view, I'd love 5% base rates, not having a mortgage anymore but borrowers tucked away mortgages for over a decade at below 1% base rates and despite the lending criteria being tightened, a lot of people have still over-stretched themselves.