‘Huge Income Shock’ Predicted for Households on Fixed-Term Mortgage Deals

‘Huge Income Shock’ Predicted for Households on Fixed-Term Mortgage Deals
Rows of houses in Hastings, England, on Aug. 5, 2020. Dan Kitwood/Getty Images
Evgenia Filimianova
Updated:

British households with fixed-term mortgage deals will feel the impact of higher interest rates when their current deals expire by the end of next year, a Barclay’s chief has warned.

Barclay’s CEO CS Venkatakrishnan told the Wall Street Journal CEO Council that a higher portion of households’ earnings will be spent on mortgage payments, leading to a “huge income shock.”

Evgenia Filimianova
Evgenia Filimianova
Author
Evgenia Filimianova is a UK-based journalist covering a wide range of national stories, with a particular interest in UK politics, parliamentary proceedings and socioeconomic issues.
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