08-07-2025
Mortgage timebomb set to hit a million households: Golden era of cheap loans comes to an end
Five years ago this week, then Chancellor Rishi Sunak lit a fire under the property market with a generous stamp duty cut which prompted a home-buying boom.
With the pandemic less than three months old, buyers rushed off to buy bigger homes in a 'race for space' and took advantage of mortgage rates that had tumbled because of emergency Bank of England rate cuts.
