Mortgage prisoners: regulatory changes and low credit scores have left thousands trapped in a cycle of high payments

By Matthew Sparkes, Assistant Professor in Sociology, University of Cambridge

There are 8.5 million households in the UK who own a home with a residential mortgage, often with fixed interest rates from two to five years. Usually, when that mortgage deal ends, the borrower will move to another deal from the same or a different lender.

But not everyone can do this. Changes in regulatory measures after the 2008 financial crisis have left tens of thousands of borrowers in the UK trapped…

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