London Daily

Focus on the big picture.
Sunday, Mar 15, 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
Prince Harry and Meghan Markle’s Planned Australia Visit Draws Mixed Reaction From Local Communities
Trump Calls on France and UK to Help Safeguard Strait of Hormuz Shipping Route
Boris Johnson Labels Bitcoin a ‘Ponzi Scheme’, Sparking Debate in Crypto World
UK Considers Targeted Aid for Vulnerable Households as Energy Costs Rise
Stellantis Urges Immediate Review of UK Electric Vehicle Sales Targets
Home Office Reverses Course to Allow Some Dual Nationals to Enter UK Using EU Passports
Reform UK Proposes Replacing Top Civil Servants With Officials Aligned to Government Agenda
Netflix Adds Critically Acclaimed ‘Best Film of 2025’ With Perfect Rotten Tomatoes Score
‘The Sums Don’t Add Up’: UK Farmers Hit by Soaring Costs as Iran War Disrupts Global Supplies
Confidential UK Biobank Health Records Found Online After Researchers Accidentally Expose Data
Trump Urges Britain and Allies to Deploy Warships to Safeguard Strait of Hormuz
Trump Urges Britain and Allies to Deploy Warships to Safeguard Strait of Hormuz
Middle East War Highlights Strategic Importance of Strong UK–Ireland Cooperation
Weak Growth Signals UK Economy Was Faltering Even Before Middle East Energy Shock
Marks & Spencer Tops UK Fashion Retail Rankings as Most Considered Brand
United States Launches Trade Investigation Into Allies Over Forced Labour Practices
United States Launches Trade Investigation Into Allies Over Forced Labour Practices
Russia Accuses Britain Over Storm Shadow Strike as London Reaffirms Ukraine’s Right to Self-Defence
Russia Accuses Britain Over Storm Shadow Strike as London Reaffirms Ukraine’s Right to Self-Defence
Royal Navy to Acquire Twenty Uncrewed Surface Vessels for Autonomous Warfare Testing
Russia Summons British and French Envoys After Ukrainian Storm Shadow Strike on Strategic Facility
Starmer Confirms Britain Will Maintain Sanctions on Russia Despite U.S. Policy Shift
UK Moves to Refine AI Definition in Investment Security Reform
UK Economy Stalls in January as Growth Unexpectedly Falls to Zero
Asian Energy Security Tested as Strait of Hormuz Disruption Threatens Oil Supplies
Iran Sets Three Conditions for Ending Regional War as Diplomatic Efforts Intensify
Tesla Secures Approval to Supply Electricity Directly to Homes Across Britain
Prince William Delivers Tribute to Australia’s Naval Alliance Amid Renewed Royal Spotlight on the Country
UK Foreign Secretary Travels to Saudi Arabia to Reinforce Support for Regional Allies
Putin’s ‘Hidden Hand’ May Be Assisting Iran in Conflict With Trump, UK Defence Secretary Warns
UK Sets April Deadline for Tech Platforms to Strengthen Online Protections for Children
Elon Musk Moves Into Britain’s Energy Market as Tesla Wins Licence to Supply Power
UK Watchdog Warns Fuel Retailers Against Profiteering Amid Iran War Price Surge
Report Claims Iran Used UK Charity Network to Expand Influence
United States and United Kingdom Establish Joint Standards for Counter-Drone Technology
Iran May Be Laying Naval Mines in Strait of Hormuz, UK Warns Amid Escalating Gulf Tensions
US Deploys Bunker-Buster Bombs to UK Airbase as Iran Conflict Intensifies
British Troops in Iraq Intercept Iranian Drones Targeting Coalition Base
Release of Mandelson Files Raises Tensions as UK Seeks Stable Relations With Donald Trump
UK Documents Reveal Starmer Was Warned About Mandelson’s Epstein Links Before Ambassador Appointment
Nearly Five Hundred UK Mortgage Deals Withdrawn in Two Days as Market Volatility Forces Lenders to Reprice
Three Cargo Ships Hit Near Iran as Attacks Spread to Strategic Strait of Hormuz
Why British Police Repeatedly Declined to Investigate Jeffrey Epstein’s UK Links
UK Parliament Ends Hereditary Seats in House of Lords, Closing Chapter on Centuries of Aristocratic Lawmaking
EU and UK Urge Israel to Act Against Rising West Bank Settler Violence Amid Regional Tensions
US Senator John Kennedy Says Keir Starmer Should Not Be Trusted for Military Advice Amid Iran War Debate
UK High Court Rejects Attempt to Revive Terrorism Charge Against Kneecap Rapper
Revolut Secures Full UK Banking Licence After Multi-Year Regulatory Wait
Kentucky’s Bench Boost Powers Wildcats Past LSU in SEC Tournament Opener
British Couple Die After Being Pulled From Water at Australian Beach During Family Visit
×