The previous interest hike made a friend's mortgage unaffordable so they took a big chance on a new job across the country - which turned out to be essentially a scam (less money than offered, job role details not the same, you've quit and moved now so what are you going to do?).
They're now into a six month rent contract (two months, deposit, and fees even if they just bail) and a mortgage they couldn't afford from the last increase, never mind this one. Two years ago they were "comfortable". Now they're fucked. And they're not the only ones even amongst the supposed middle class.
The previous interest hike made a friend's mortgage unaffordable so they took a big chance on a new job across the country - which turned out to be essentially a scam (less money than offered, job role details not the same, you've quit and moved now so what are you going to do?).
They're now into a six month rent contract (two months, deposit, and fees even if they just bail) and a mortgage they couldn't afford from the last increase, never mind this one. Two years ago they were "comfortable". Now they're fucked. And they're not the only ones even amongst the supposed middle class.