Five million UK families ‘face mortgage rising by £5,100 a year by end of 2024’

Increase adds up to a £26bn rise for homeowners, says Resolution Foundation thinktank

More than five million families could see their annual mortgage payments rise by an average of £5,100 between now and the end of 2024, heaping fresh pain on households already struggling with higher food and energy bills.

The increase adds up to a £26bn mortgage rise for homeowners, according to the analysis by the Resolution Foundation thinktank which said nearly a fifth of British households would have to spend more on their housing costs by the end of 2024.

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