Mortgage holders are being warned to brace for payment increases over the next three years as the Bank of England cites war and trade tensions as threats to financial stability.
The bank says as many as half of UK mortgage holders, around 4.4million, can expect to be paying more by 2027.
That includes frightening £500 rises in monthly repayment costs for close to half a million households.
The Bank of England, as reported by the BBC, stressed global risks to the economy have been rising.
It suggested wars, trade tension, cyber attacks and geopolitical tensions pose "significant" risks to wider financial stability in the UK.
There may, however, be good news for around a quarter of mortgage holders as they could see their monthly bills fall over the same period.
The Bank of England, in the latest edition of its Financial Stability Report, said: "While many UK households, including renters, are still facing pressures from the increased cost of living and higher interest rates, the share of households who are behind in paying their mortgages is low by historical standards.
"And the share of households spending a high proportion of their income on mortgage payments is expected to remain low."
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