2024-09-26 13:54:51

The New Rate Shock Will Quickly Slam Millions of UK Homeowners

Bloomberg

By Joe Weisenthal

The interest rate shock in the UK will quickly and directly hit millions of homeowners who are scheduled to refinance their mortgage.

According to Neal Hudson, a director at Residential Analysts Ltd. and creator of BuiltPlace, roughly 1.4 million UK households are set to refinance their mortgages over the coming year. This is a substantial chunk of the roughly 9 million owner-occupied and 2 million buy-to-let mortgages that are currently in place. He posted this chart to Twitter this morning:

#mortgage #twitter #ukhouseholds #homeowner #shock

Continue read on bloomberg.com

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