The Bank of England says that more than five million homeowners are expected to face higher mortgage payments as interest rates and borrowing costs feed through to household finances. In its latest Financial Stability Report, the Bank projects that a little over five million households will see increases in their mortgage costs by the end of 2028. The report presents this as part of an overall assessment of risks to financial stability and how higher rates may affect household budgets over time. The figures refer to households with mortgages and the expected direction of change in their payments, rather than to defaults or specific individual situations. The Bank’s analysis highlights that the impact of monetary policy and market interest rates continues to work through to the mortgage market, influencing affordability for households with variable or refinancing-sensitive loans. While the Bank’s report focuses on the scale of payment increases across households, it does not, in the information provided here, specify the size of the increases or the exact breakdown by mortgage type.