UK housing costs rise 41% over five years for renters and owners, study shows

Borrowers coming off fixed deals hit hard as Savills says big spike in interest payments made up half the overall rise

UK households spent a record 226bn to keep a roof over their heads last year, figures showed on Monday, with mortgage borrowers finishing fixed-rate deals particularly hard hit by rising payments.

Overall housing costs have gone up by 66bn over the past five years, a rise of 41%, the property group Savills said.