Martin Lewis shares ‘one good bit of news’ out of mortgage rates crisis
- 10 months ago
Martin Lewis has shared the one "good", yet bleak, outcome of the rise in mortgage rates.
Speaking to Good Morning Britain, the MoneySavingExpert founder said: "Courts are so clogged up it'll be virtually impossible to reposess anyone for 18 months."
His comments came as the average two-year fixed-rate deal topped 6 per cent for the first time this year.
The government has been urged to step in to tackle spiralling monthly costs facing homeowners but Rishi Sunak have ruled out government help for homeowners, instead asking banks to offer “bespoke support” to those struggling with interest rates.
Speaking to Good Morning Britain, the MoneySavingExpert founder said: "Courts are so clogged up it'll be virtually impossible to reposess anyone for 18 months."
His comments came as the average two-year fixed-rate deal topped 6 per cent for the first time this year.
The government has been urged to step in to tackle spiralling monthly costs facing homeowners but Rishi Sunak have ruled out government help for homeowners, instead asking banks to offer “bespoke support” to those struggling with interest rates.