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Features

Home truths: the crushing reality of the mortgage crisis

Can the Tories survive a mortgage crisis?

24 June 2023

9:00 AM

24 June 2023

9:00 AM

In December Jeremy Hunt hosted a mortgage summit, attended by lenders and the Financial Conduct Authority, to discuss rate woes. At the time, the numbers were at least moving in the right direction. During Liz Truss’s 49-day premiership, the FCA expected interest rates to rise to 5.5 per cent, an increase which was forecast to put 570,000 people into mortgage payment difficulty.

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