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Tom Espiner
BBC business reporter
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Millions of British households are facing an average £107 rise in monthly mortgage payments as their deals expire, according to the Bank of England.
It has said that 3.6 million home loans are coming up for renewal over the next three years, equating to 41% of all outstanding mortgages.
But the number of mortgages facing expiry is less than the Bank of England had initially expected and the monthly hike is below the £146 increase it had first anticipated.
While some bills will rise, a fall in interest rates is slowly feeding its way into typical monthly mortgage payments following four cuts by the Bank of England since last August.
Around 2.5 million households, or 28% of mortgage holders, will see their bills fall in the next three years.
Meanwhile, first-time buyers could get more access to mortgages after the Bank of England recomended a looser cap on riskier lending.
In its latest Financial Stability Report, the Bank said at present just under 10% of new mortgages issued exceed 4.5 times a borrower's income.
The Bank is happy for that percentage rise, recommending allowing individual banks and building societies to issue more than 15% of their new mortgages at higher than 4.5 times loan-to-income.
However, the Bank still wants to make sure that no more than 15% of new mortgage lending across the industry is above 4.5 times loan-to-income.
The Bank's recommendation comes after a call by the UK government for regulators to look for ways to encourage economic growth.
The Bank reckons the change could lead to up to 36,000 new higher loan-to-income mortgages a year.
Elsewhere, the bank said financial instability across the globe had increased, after the US-led global trade war.
While there had been little direct impact so far on British households and companies, some significant changes were occurring to the global financial system.
In particular, the traditional strengthening of the US dollar as a safe haven in times of turmoil appeared to have changed since the start of the global tariff war.
Investors and large companies who never previously felt the need to hedge or insure against a weak dollar were now doing so, the Bank said.
This has added to the weakness of the US dollar this year, which is already down about 10% against a range of currencies.
US president Donald Trump has said he wants a weaker dollar, arguing that will boost exports and US manufacturing jobs growth.
However, imported goods can get more expensive, adding to any price rises from tariffs.
