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Story summary
- About one million British homeowners face mortgage increases this year, with some rising by nearly £5,700 due to borrowing costs tied to Middle East conflicts.
- Around 970,000 borrowers with fixed-rate deals under 2% from 2021 are particularly vulnerable.
- The two-year fixed rate is 5.2%.
- Five-year fixes are 5.25%.
- Over 650 mortgage deals have vanished recently, fueling market panic and inflation could reach 3% by year-end, prompting Bank of England (BoE) rate hikes.
