Letter: The threat of a mortgage time bomb is real

It’s not the base rate borrowers should be worried about, but the cost of money once the banks raise their rates, as happened in 2006-07 when the base rate went from 4 per cent to 5.75 per cent (“Traders bet Bank of England will raise rates as soon as next month”, Report, October 19).

It will not take much of a rise, off historically high mortgages, for homeowners to suddenly be faced with a mortgage time bomb. This threat is real.

Ross Freedman
London W1, UK

Letter: The threat of a mortgage time bomb is real
Pinoy Variant