"lenders will have to be look to identify and try to help the most exposed borrowers on their books"

Adam Oldfield, chief revenue officer at Phoebus Software:

“With consumer duty on the horizon, if they aren’t already, lenders will have to be look to identify and try to help the most exposed borrowers on their books.

“Yet, we have a way to go before we hit the 8% that was stress-tested into the mortgages that are coming to the end of their fixed-terms this year; in theory, borrowers should be able to afford the current increases, but that may not be true in the current cost of living reality.”