Arrears have hit a seven-year high due to rising interest rates and unemployment A growing number of British households are falling behind on loan payments, with mortgage arrears jumping by 13% in the second quarter of the year to the highest level since 2016, Bank of England data showed on Tuesday. The value of home loans with late payments rose to £16.9 billion ($21.1 billion), up 29% on the previous year, as rising interest rates and unemployment in recent months have put pressure on household disposable incomes. “The speed at which mortgage arrears are increasing is terrifying and should give cause to pause at
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