U.K. Banks Expect to See a Jump in Mortgage Loan Defaults

(Bloomberg) -- Financial strains on U.K. borrowers as wage subsidies end and unemployment rises could lead to a spike in defaults on mortgages, credit cards and other loans. According a Bank of England survey of lenders, they expect default rates to increase this quarter. The expectations index for both mortgages and unsecured debt has risen to the highest since the financial crisis.

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