How the mortgage crisis could break Britain
The end of close to 15 years of cheap credit is over and it’s having a significant impact on the British economy. As the Bank of England rachets up interest rates, many homeowners are feeling the pinch, but the impact goes beyond higher interest payments for those with mortgages.This sea change in monetary policy is calling into question one of the few certainties of life in Britain. The idea that property is a safe and secure investment is on shaky ground.To help us explore what this means for Britain’s economy, society, and political landscape, in this week’s episode of The i Podcast we are joined by our housing correspondent, Vicky Spratt, and money and business editor, Jessie Hewitson.Join us as we take a deep dive into the mortgage crisis, looking at the ramifications of the ongoing transformation of the UK economy, and find out how our guests are coping with the borrowing crunch themselves.Produced by Albert Evans, edited by Julia Webster.Music featured is by Michael Kobrin and Lexin Music - licensed via Pixabay.Check out their music here:https://pixabay.com/music/modern-classical-the-introvert-michael-kobrin-10959/https://pixabay.com/users/lexin_music-28841948/ Hosted on Acast. See acast.com/privacy for more information.