Martin Lewis Warns of Mortgage Crisis as ‘Ticking Timebomb’ Explodes

Martin Lewis Warns of Mortgage Crisis as 'Ticking Timebomb' Explodes

The UK’s leading financial expert, Martin Lewis, has warned of a potential mortgage crisis as a ‘ticking timebomb’ explodes. Lewis, the founder of, believes that the current economic climate could lead to a sharp rise in mortgage defaults and repossessions.

Lewis believes that the combination of rising unemployment, low wages and high levels of personal debt are creating a perfect storm for homeowners. With more people struggling to make ends meet, the risk of defaulting on mortgages is increasing. This could lead to a sharp rise in repossessions, with thousands of families being forced out of their homes.

Lewis has called on the government to take action to protect homeowners. He believes that the government should introduce measures such as rent-to-own schemes and debt restructuring plans to help those struggling with their mortgage payments. He also believes that banks should be more flexible when it comes to mortgage repayments, allowing borrowers to extend their repayment periods or reduce their monthly payments.

The warning from Lewis comes at a time when the UK housing market is already under pressure. House prices have been falling since the start of the year, and the number of homes being repossessed is on the rise. This could lead to a further decline in house prices, as more people are forced to sell their homes at a loss.

Lewis’s warning should be taken seriously by the government and banks. If action isn’t taken soon, the UK could be facing a major mortgage crisis in the near future. It is essential that measures are put in place to protect homeowners and ensure that they can continue to make their mortgage payments.