Over 2.3 Million UK Households Face Higher Mortgage Payments Amid Expected Bank of England Rate Hike

More than 2.3 million households in the United Kingdom are projected to face a significant increase in mortgage payments as their fixed-rate deals expire in 2027. This comes as the Bank of England is widely anticipated to begin raising interest rates this week. The central bank is also expected to release updated forecasts for economic growth and inflation alongside its interest rate decision.