Britain is sitting on a mortgage ‘ticking time bomb’ homeowners were warned as an inflation surge pushed interest rate rises closer.
Rising inflation set to twist the Bank of England's hand.
Fixed rate mortgages are already being pulled from the market as the Bank of England faces renewed pressure to raise interest rates to combat inflation which hit 3.7 per cent.
City swap rates are already rising and the knock on effect is that the cost to Lenders in raising funds is also already rising. Lenders have already admitted any of its deals could be pulled within days.
Those who want to fix need to do so now.’
