London Daily

Focus on the big picture.
Friday, Mar 27, 2026

'Our mortgage got so high we put off having a baby'

'Our mortgage got so high we put off having a baby'

Alex Czok and her husband Tom Beech had hoped to start a family this year but when their mortgage went up by hundreds of pounds they put their plans on hold.

They are one of the four million UK households facing higher mortgage bills this year.

On Thursday, the Bank of England increased the UK's main interest rate to 4% - its highest in almost 15 years.

But mortgage payments aren't counted in the main cost of living figure that drives pay and benefit rises.

Ms Czok and Mr Beech were keen to get a move on with starting a family after the pandemic delayed their wedding plans.

They had done the budgeting for kids. They could make ends meet during a baby's first year with money set aside for her maternity leave or childcare later on. But that all changed.

"Because of the mortgage going up by £300, the money I was thinking of putting aside for the child, it would eat up most of that, so I will have to wait until we get a better mortgage deal," the 26-year-old said.

The average monthly mortgage bill will go up from £750 to £1,000, the Bank of England said in December.

The couple's repayments are going up by a bit more than that average rise of £250.

It's more than double the rise in energy bills that they had to suck up last year. Ms Czok says starting a family is going to have to wait.


Two different cost of living crises


The pay bump she got with a new job as an admin assistant for the council doesn't come close to the double hit of inflation and rising interest rates.

And it is a double hit: two different cost of living crises.

The official inflation number that drives discussions of the cost of living doesn't take account of mortgage interest costs.

But that number determines how much benefits will rise and it sets the tone for salary negotiations between employers and unions.

So the difference matters. Unions like Unison, who represent many council workers, say that "inflation statistics are of vital importance to our members".

Why doesn't inflation include mortgage payments?

The main measure of inflation - the Consumer Price Index (CPI) looks at the prices of things we buy and use up: like food, fuel or holidays using internationally agreed rules.

It's designed for officials working out what to do with interest rates or for comparing the UK to other countries.

But it's not exactly the same as the cost of living.

You don't use up your house if you own it. Eventually you'll sell it, maybe at a profit. So the rules don't count house prices.

They also don't count the interest paid for things you buy with your credit card - only the original price is tracked.

But your cost of living does depend on interest payments. Especially the one in your mortgage.

The Office for National Statistics (ONS) is developing new statistics designed to capture better the cost of living, including mortgages, for different types of households, like pensioners or families with children.

A bigger hit than food or fuel


Unison argue for a different measure of inflation that does take account of mortgage rates.

But if we want to target help to households with different needs, then our price statistics should be "specifically designed" to measure those different needs, argues Jill Leyland, an inflation expert at the Royal Statistical Society.

Most households won't be hit directly by the huge repayments that Ms Czok and Mr Beech will face. For example, people who don't own or plan to own a home or who have already paid off their mortgage.

But those who are getting hit will be hit hard. It moves serious money worries back up to people we would have previously thought of as doing ok.

Stu Hennigan, for example, has a decent job as a senior librarian, earning a salary that his 30-year-old self would have described as a "jackpot".

Stu Hennigan and his family spends almost a third of their income on their mortgage


But the rising cost of living means he's returned to the skint feelings he remembers from his younger, minimum wage days - using cards to spread unexpected costs like a car repair over a couple of months.

Half that hit came last year, with the food and fuel bills story familiar to everyone, just as the Hennigans' two kids started to reach the age of growth spurts and enormous appetites.

But the family's finances took another hit in November when their bank told them what their new mortgage payments would be.

They're now spending nearly a third of all their income on the mortgage.

But Ms Czok and Mr Hennigan still feel they're relatively lucky.

And Ms Czok and Mr Beech hope in a few years that time and money will be on their side when it comes to starting a family.

Newsletter

Related Articles

0:00
0:00
Close
Jaguar Land Rover Halts Production at UK Plant Amid Supplier Disruption
UK Police Reverse Position, Confirm Arrests Will Resume for Palestine Action Protests
UK Small Businesses Face Europe’s Steepest Cost Pressures, New Survey Reveals
US Envoy Urges UK to Proceed with King’s Visit Amid Diplomatic Sensitivities
FTSE 100 Drops Over One Percent as Middle East Tensions Weigh on Markets
UK CO2 Plant Set to Reopen as Authorities Move to Safeguard Supplies Amid Middle East Tensions
Trump Urges Stronger Defence Investment as He Questions Allied Naval Capabilities
New COVID Variant Detected in UK Raises Concerns Over Vaccine Effectiveness
FTSE Russell Moves to Standardise Free-Float Rules for UK and International Listings
HBO Max Launches in UK and Ireland, Marking Major Step in Global Streaming Expansion
UK Signals Readiness to Seize Russian ‘Shadow Fleet’ Vessels in Escalation of Sanctions Enforcement
Escalating Middle East Conflict Seen as Major Threat to UK Economic Stability
Early Challenges Mark Prince Harry and Meghan’s Australia Visit
UK Government Rejects Cover-Up Claims After Theft of Former PM Aide’s Phone
Cyprus Opens Strategic Talks with UK Over Sovereign Base Areas
UK Faces Risk of Sharp Inflation Surge Despite Stable Pre-Crisis Figures
UK Police Arrest Two Over Suspected Antisemitic Arson as Iran Link Investigated
UK Inflation Holds at Three Percent Ahead of Oil Price Shock from Iran Conflict
UK Fuel Prices Face Upward Pressure as Global Oil Trends Raise Cost Outlook
Girlguiding UK Sets September Deadline for Membership Policy Change Affecting Trans Participants
Germany and UK Accelerate Wind Power Expansion to Strengthen Energy Security
UK Moves to Ban Cryptocurrency Donations to Political Parties Over Foreign Influence Concerns
UK and Turkey Finalise Major Air Defence Agreement Worth Billions
Apple Introduces Mandatory Age Verification for iPhone Users in the UK
Diverging Views Emerge Over Meghan Markle’s Planned Australia Appearance
Trump Signals Frustration with UK Leadership Amid Diverging Approaches to Iran Conflict
UK Government Takes Control of Hunterston B as Landmark Nuclear Decommissioning Begins
UK Public Inflation Expectations Jump Sharply in March, Raising Pressure on Bank of England
UK Ministers Warn Expanded North Sea Drilling Would Deepen Exposure to Global Energy Volatility
Delayed UK Defence Investment Plan Leaves Suppliers Under Severe Financial Strain
Can Iran Strike the UK? Assessing the Real Military Threat as Conflict Escalates
Sanctioned Iranian Banker Linked to Luxury Marbella Villa Through UK Corporate Structure
Casey Bloys Navigates HBO Max UK Launch, Paramount Integration and Industry Buzz Over Netflix Meeting
Iran Conflict Sparks Sharp Turbulence in UK Mortgage Market, Reaching Pandemic-Era Disruption Levels
Major Donor Urges University of Kentucky to Reconsider Mitch Barnhart’s Post-Retirement Role
United Kingdom Moves to Lead International Effort to Reopen Strait of Hormuz
UK Police Investigate Targeted Attack on Jewish Ambulance Vehicles
UK Police Investigate Targeted Attack on Jewish Ambulance Vehicles
Senior UK Advocate Criticises Barnhart Retirement Appointment, Calls for Reconsideration
UK Finds No Evidence of Direct Iranian Threat to Britain, Says Prime Minister Starmer
Assessing Iran’s Strike Capability and the UK’s Readiness Amid Rising Tensions
NATO Unable to Confirm Iran’s Role in Strike on UK-US Base as Tehran Denies Involvement
University of Kentucky’s Youling Xiong Receives SEC Faculty Achievement Award for 2026
Trump Highlights Satirical Portrayal of UK Leadership Amid Talks with Prime Minister Starmer on Iran Conflict
Trump Highlights Satirical Portrayal of UK Leadership Amid Talks with Prime Minister Starmer on Iran Conflict
UK Fuel Prices Surge Toward Crisis Levels as Experts Warn of Further Sharp Increases
UK Fuel Prices Surge Toward Crisis Levels as Experts Warn of Further Sharp Increases
Duchess of Sussex Secures ‘As Ever’ Trademark Rights in Australia Ahead of High-Profile Visit
UK Reaffirms Security as Officials Reject Claims of Immediate Iranian Missile Threat
Rising Middle East Tensions Spark ‘Trumpflation’ Debate Over Impact on UK Households
×