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UK Lenders Face Biggest Mortgage Test Since Financial Crisis

  • Barclays among lenders allocating more staff to help customers
  • Repossessions are growing as cost of living hurts borrowers
Estate agents sign dadvertising a property as sold at residential apartments in Romford.

Estate agents sign dadvertising a property as sold at residential apartments in Romford.

Photographer: Chris Ratcliffe/Bloomberg
Updated on

Britain’s banks are preparing for a wave of homeowners struggling to pay their mortgage bills after borrowing costs tripled this year.

Barclays Plc, HSBC Holdings Plc and Lloyds Banking Group Plc are among lenders allocating more workers to deal with customers struggling to meet their loans. Almost one in four people with a mortgage is already finding it difficult to afford the repayments, according to one survey, as daily living costs rise at the fastest pace in four decades.