Millions in UK face higher mortgage payments as interest rates loom
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More than 2.3 million UK households face a sharp rise in mortgage payments in 2027 as they come off fixed-rate deals. The Bank of England's monetary policy committee is widely expected to increase the base rate from 3.75% to 4% on 5 November following September inflation rising to 3.5%, marking potential further financial pressure alongside higher energy and food bills.
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