UK mortgage payers making big changes to meet higher payments, survey finds

Britons are raiding savings or cutting pension contributions, KPMG study finds

Mortgage holders are making big changes to their finances - from cutting pension contributions to downsizing - to cope with dramatically higher monthly payments, a new survey shows.

Faced with either the immediate reality of higher mortgage costs or the prospect of a sharp rise in payments once an existing deal has expired, more than 1,000 mortgage holders were asked this month by KPMG whether they had either already taken, or were considering taking, action to deal with this.