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BoE: 5 Million UK Homeowners Face Higher Repayments by 2028

7/7/2026

49 12 Full Breakdown

Summary

Story summary

Bank of England projects one million UK homeowners will face costs because of the Iran war and forecasts five million will see repayments rise by end-2028, up from four million December.
Owners with fixed rates ending in two years face £45 hikes.
About 750,000 borrowers paying 3% will roll off and face £170 increases.
Over two million two-year fixed borrowers expiring by 2028 will remortgage at rates, keeping repayments steady.

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Story summary

Bank of England projects one million UK homeowners will face costs because of the Iran war and forecasts five million will see repayments rise by end-2028, up from four million December.
Owners with fixed rates ending in two years face £45 hikes.
About 750,000 borrowers paying 3% will roll off and face £170 increases.
Over two million two-year fixed borrowers expiring by 2028 will remortgage at rates, keeping repayments steady.