Mortgage timebomb: Millions will have exited fixed-rate deals before the next election

Cumulative number since BoE

began raising interest rates

4.4m

Dec 2024

4 million

3

2.8m

Dec 2023

2

2m

Jun 2023

(Bank rate 4.5%)

1

1.3m

Dec 2022

(Bank rate 3.5%)

(Bank rate

0.25%)

0

2022

2023

2024

Cumulative number since BoE began raising interest rates

4.4m

Dec 2024

4 million

3

2.8m

Dec 2023

2

2m

Jun 2023

(Bank rate 4.5%)

1

1.3m

Dec 2022

(Bank rate 3.5%)

(Bank rate

0.25%)

0

2022

2023

2024