Overview

• 370,000 homeowners expected to fall behind on bills as they refinance at higher rates.
• 320,000 people have been pushed into poverty due to increased mortgage costs.
• Bank of England's rate hikes have led to the highest borrowing costs in 16 years.
• Average monthly mortgage payments have risen significantly, straining household budgets.
• Calls for improved social security measures to address the growing financial instability.