Some 770,000 households are at risk of defaulting on mortgage payments over the next two years, the financial watchdog has told MPs.
The FCA said 200,000 homeowners were already in arrears in June last year, while a further 570,000 were now “at risk of payment shortfall”.
The figures were published by the cross-party Treasury select committee yesterday as part of the regulator’s response to questions raised by MPs in an accountability hearing.
