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Consumer champion warned today that a mortgage calculator houston (tupalo.com`s statement on its official blog) ticking time bomb is now ‘exploding’ – and he does not expect any government rescue package.<br>trulia.comThe MoneySavingExpert.com founder said Britons would have to readjust their household finances if interest rates are going to be high over three or four years.<br>It comes as average rates on two-year fixed deals soared further above 6 per cent today.
This means a typical borrower will have to pay around £300 a month more for repayments than they would have done if looking for a similar mortgage a year ago.<br>But Prime Minister Rishi Sunak has turned down calls for the Government to step in to help people with mortgages – and Mr Lewis said he ‘can’t see’ ministers helping.<br>Mr Lewis, 51, spoke out ahead of new inflation figures coming out tomorrow and then another expected Bank of England base rate rise on Thursday.<br> Consumer champion Martin Lewis told ITV’s Good Morning Britain that Britons would have to readjust their household finances if interest rates are going to be high over three or four years<br> <br> <br> Traders now believe the rate will hit 6 per cent by the end of the year, with lenders scrambling to replace deals with pricier offers as they respond to expectations.<br><div class=”art-ins mol-factbox floatRHS news” data-version=”2″ id=”mol-2d91df10-0f57-11ee-a8a3-1dfc0e940713″ website Lewis warns that interest rate hikes are crippling homeowners