Up to a million families are struggling to pay off their mortgages, a report reveals today, with a further 1.8 million people saying they have hit problems 'at least occasionally'.
The Bank of England survey shows that increasing interest rates have lifted homeowners' annual mortgage payments by a total of £3.6bn in the past year. The situation is expected to worsen as the global credit crunch prompts banks to tighten the supply of money even further to shore up their own finances.
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