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https://www.wsj.com/articles/u-k-housing-market-heads-for-mortgage-rate-shock-11665416246

LONDON—The U.K. is about to sustain the biggest shock to its housing market since the 2008 financial crisis, economists say, with hundreds of thousands of British homeowners about to see monthly mortgage payments soar in the coming months.

The U.K. is vulnerable to rising mortgage rates because unlike in the U.S., where the 30-year fixed-rate mortgage prevails and is typically backstopped by government-backed lenders, most mortgages carry rates that reset after two or five years.

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This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.