Ms Haines said "the majority of banks and building societies aren't seeing significant increases in the number of customers in difficulty"."And it's the fact that we've got about 800,000 people across the UK that are going to come off a fixed rate mortgage over the rest of this year."The rising rates were starting to have an effect on first time buyers, with fewer "across the whole of the UK market", she added.
Ms Haines said: "If these market rate predictions of where the Bank of England base rate might go... then I would expect that confidence and the ability for first time buyers to pass all of the stress testing and affordability tests, that really starts to come under pressure. "It is back to the Bank of England and the government to do as much as they can to ensure that this inflation crisis doesn't get embedded into the economy."