Venkatakrishnan, known as Venkat, estimates that payments from mortgage holders and tenants will take a chunk of between 28% and 30 percent out of their income.
Barclays said that most people will start to feel the impact of higher rates when their current deal expires by the end of next year and predicted there is a huge income shock on the way.
It said that about 1.3 million households will reach the end of their deals this year and will face a rise of up to 200 per month, based on current rates.
While on the face of it we have seen a fall in inflation back down to single figures, it is not by quite as much as expected, said Andrew Montlake, managing director of mortgage brokers Coreco.
What is more, the important underlying inflation figure has proved to be stickier than anticipated. The markets are reacting to the Bank of England's policy of rate hikes, as they believe the Bank of England may continue with their policy of rate rises. If you're interested in speaking to a BBC journalist, please provide a contact number. How can I get in touch with you in the following ways?
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