UK Business

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Mortgage lenders are relaxing their rules -- here's why that could be risky for borrowers

Written by Alper Kara, Professor and Head of Department - Accounting, Finance and Economics, University of Huddersfield

Budgeting to buy a home.Tero Vesalainen/Shutterstock

The Bank of England increased its base rate yet again in May 2023 to 4.5%, pushing borrowing costs to the highest level in almost 15 years. More than 6 million UK households will now see their mortgage payments increase by the end of 2025, with more than 4 million experiencing this in 2023.

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