Lenders set out ways to help vulnerable borrowers

The comments came after brokers and mortgage advisers urged lenders to do more to help borrowers as persistently high inflation - which came in at 9.9 per cent CPI in August - continues to bite consumers.

As reported by FTAdviser, Ross Boyd, founder of mortgage comparison platform, said: "Soaring energy bills are something the UK’s mortgage lenders have the chance to address head on."

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This was reflected in a study by Butterfield Mortgages, which warned that a significant proportion of respondents were concerned they would no longer be able to afford mortgage repayments due to rate rises.