Rising mortgage costs: what can struggling homeowners do?

Tips for securing a new deal and what to do if you cannot afford your monthly payments

Aerial photograph of terraced housing in Southville, south west Bristol
Homeowners are having a tough time with mortgage repayments
(Image credit: David Goddard/Getty Images)

Mortgage pricing may have fallen as the Bank of England has paused interest rate hikes, but many homeowners are still struggling with repayments.

The Bank of England (BoE) raised interest rates to a 15-year high of 5.25% in August 2023 but it has frozen the cost of borrowing in its four most recent rate-setting meetings.

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