Mortgage Brokers Made Rate Hikes More Painful, Says Bank of England
- Homeowners tempted into shorter deals, according to research
- This left them more exposed when interest rates surged
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British homeowners were left particularly exposed to rising interest rates after mortgage brokers convinced them to sign shorter-term deals, according to research by the Bank of England.
Its analysts said that a jump in the use of brokers for home loans during the 2010s coincided with more households choosing short-term fixed mortgages.