The Bank's financial policy committee said this would include £500-a-month increases for the mortgages of about 420,000 households.
The committee found that more than a third of borrowers - about 37% - had so far been shielded from rises to interest rates because they had secured fixed-rate mortgage deals before increases began in the second half of 2021.
About 31% of all mortgage holders, or 2.7m households, are expected to refinance on to a rate of more than 3% for the first time before the end of 2027.
That includes up to 1.5m households, who will be forced to roll on to higher mortgages for a second time since interest rates started rising three years ago.
In its financial stability report, the Bank's committee said this would lead to a 22% increase in monthly payments, on average, adding about £146 to the typical bill. However, that was slightly lower than previous forecasts in June, which had pointed to a £180 increase.
Bu hikaye The Guardian dergisinin November 30, 2024 sayısından alınmıştır.
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Bu hikaye The Guardian dergisinin November 30, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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