UK 2.3M households face 2027 remortgage shock as BoE rate rise looms

The Bank of England is expected to raise its base rate from 3.75% to 4% on 5 November, following UK inflation rising to 3.5% in September. Over 2.3 million UK households will face higher mortgage payments when they refinance fixed-rate deals in 2027, amplifying cost-of-living pressures. The move signals a continued tightening cycle, with the impact on consumer spending and housing market activity uncertain.

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