UK Mortgage Collapse Just Started
The Bank of England has kept rates flat at 5.25% this week after the Government celebrated UK inflation (CPIH) dropping from 6.4% to 6.3%.
The UK mortgage crisis is now starting and starting from this quarter, millions of people are coming off their low fixed term mortgages and will have to pay 50-100% more in their monthly payments.
The situation is abysmal and the UK economy is in trouble, but will Rishi Sunak, the UK Government, or the Bank of England do anything? I think we know the answer.
Credit to : Sasha Yanshin