New mortgage 'distress' warning fired

Work longer or rein in your spending. That's the Bank of England's (BoE) grim warning to the UK's 11 million or so mortgage holders. The BoE thinks a 1% rise in interest would cause considerable "distress".

Though the base rate is low at 0.5%, many banks and building societies may hike rates well before the Bank of England does. Are you at risk? %VIRTUAL-SkimlinksPromo%