fintech / news / / The Guardian
HSBC, Barclays, Lloyds, NatWest and Santander asked to attend emergency summit.
The chancellor has summoned the CEOs of the big five UK retail banks for an emergency summit.
KEY POINTS
- The meeting will address supporting the 1.6 million customers with fixed-rate mortgages ending this year.
- Banks have already pulled about 1,500 mortgage products and raised rates on others amid the crisis.
- Banks may be asked to provide early data on consumer behavior in response to Middle East turmoil.
- The Bank of England forecasts about 5.2 million borrowers could face higher mortgage payments by 2028.
COMPANIES
Summarized by Newsio from The Guardian. How we summarize →