Long ReadMay 5 2023

Rate rise risks pushing mortgage prisoners to foodbanks

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Rate rise risks pushing mortgage prisoners to foodbanks
Mortgage prisoners have spoken of their distress as bank base rates keep rising. (Kindel Media/Pexels)

Mortgage prisoners trapped in products sold before the 2007-08 financial crisis have been forced to rely on foodbanks as interest rates hit 8 per cent and above.

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