Britain’s mortgage timebomb
Today in Focus
The Guardian
4.6 • 5.9K Ratings
🗓️ 22 June 2023
⏱️ 33 minutes
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| 0:00.0 | This is the Guardian. |
| 0:09.4 | Today, as the Bank of England prepares to put up interest rates, again, |
| 0:14.8 | what does it mean for millions of people in Britain struggling to pay their bills? |
| 0:26.2 | We know your pet isn't just a pet. |
| 0:29.2 | They're family. So whether they're greeting you with a waggy tail, |
| 0:34.0 | or giving you sad eyes after the vents. |
| 0:37.2 | Don't worry, Benji, you're on the mend. |
| 0:40.1 | More than pet insurance has your back and theirs, with our dog insurance recognised as a |
| 0:45.2 | which best buy. To find out more, search more than pet insurance, because life is more than |
| 0:51.0 | insurance. Premier £6,000 dog insurance rated a which best buy December 2022. |
| 0:59.6 | It's been called a roller coaster, a meltdown. Money saving expert Martin Lewis has called it a |
| 1:12.7 | nightmare and son. They can't say they weren't warned. I said at the time it was a mortgage |
| 1:18.1 | ticking time bomb and I'm afraid that time bomb is now exploding. One thing is clear. |
| 1:24.8 | Britain's mortgage market is in Mayhem right now and millions of people, not just homeowners, |
| 1:30.7 | will be feeling the impact. The impact on mortgages has a big knock on effect for many renters |
| 1:37.0 | while seeing record proportions of their disposable income going on rents at the moment |
| 1:41.2 | that's making that unaffordable and we are heading for trouble. |
| 1:47.6 | Today, the Bank of England is expected to announce another increase in interest rates in a bid to |
| 1:52.9 | fight inflation which remains stubbornly high at 8.7%. Everything really is more expensive |
| 2:01.0 | and housing costs are set to become even more expensive still. |
| 2:06.0 | I feel a bit trapped. I don't know. In six months time what's going to be life? Like, |
| 2:14.2 | is it going to be cutting things to the bone? Yeah, I worry about it every morning. I'll be |
... |
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