Jeremy Hunt has hauled in some of the country’s biggest lenders for talks over the looming mortgage after interest rates rose to 5 per cent.
The chancellor is this morning meeting reportedly meeting with the CEOs of Lloyds, Santander, Barclays, Natwest, HSBC and other.
He will urge them to do more for their customers, millions of whom are being hit with soaring monthly payments.
Extending mortgage terms and granting customers payment holidays are among some of options being considered, reports say.
Elsewhere, economists have warned that Britain is now on course for recession – predicting the bigger-than-expected rise by the Bank would hit the economy “like a giant wave”.
