UK consumers struggling with mortgage repayment problems might have hoped that the Bank of England would lower the base rate of interest to push down their monthly outgoings.
However, after the BoE decided to freeze rates to battle rising inflation some consumers are expected to struggle keeping up with their mortgage repayments.
Michael Coogan from the Council of Mortgage Lenders commented, "Clearly there are still affordability pressures on borrowers and a widespread funding shortage for lenders."