Mortgage Re-Payments Rise Today

The video discusses the rise in mortgage rates by Halifax and other lenders, affecting over a million households. Many homeowners, like Cheney Hagan, are struggling to meet increased repayments. The video offers advice on managing mortgage payments, such as negotiating with lenders and budgeting. The Bank of England has kept interest rates low, but the eurozone crisis has led to higher rates for banks. Some homeowners, known as mortgage prisoners, are unable to refinance due to new rules and declining home values.

What percentage of households surveyed are already struggling with repayments?

How has the Bank of England responded to the potential for rate rises?