The average mortgage rates for two-year fixed deals topped six per cent this week. But while many homeowners in Cornwall will be feeling the pain, the majority won't notice a thing.
Across the UK there are more people who own their homes outright than own one with a mortgage. And in Cornwall, almost 105,000 households are owned outright by the people who live there, compared to over 64,000 who own it with a mortgage.
Renters make up an even smaller share of the marketplace, with 17% living in social housing, and 20% in private rented accommodation. The picture varies across the county, however.
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In four Cornish neighbourhoods, 54% of households own their home outright - Mylor Bridge & Frogpool, Mevagissey and Polgooth, Towednack, Lelant & Carbis Bay, and Altarnun & Stoke Climsland. Between 22% and 26% of households in those neighbourhoods own the property with a mortgage.
Some 53% of households are owned outright in the St Breward, Tredethy & Lanivet and Crackington and Tintagel neighbourhoods, while in Looe & Polperro, St Neot and St Cleer, and Gunnislake and Calstock it's 52%.
But at the other end of the scale, just 27% of households in Falmouth North own their home outright. That's compared to 17% who own it with a mortgage.
In Bodmin West 29% of households are owned outright compared to 24% with a mortgage, while in Newquay West, Redruth North, and Penryn 30% of households own their home outright compared to 26% with a mortgage.
Across England and Wales as a whole, more than two thirds of homes in some neighbourhoods are owned outright, including one in Essex. In the Barton on Sea area of New Forest in Hampshire, 68% of households own their homes outright. That's the highest percentage in England and Wales.
When it comes to local authorities as a whole, North Norfolk has the highest percentage of properties that are owned outright - 49%. That's followed jointly by Rother, Staffordshire Moorlands, Ceredigion, and Derbyshire Dales at 48% each.
Another seven areas have 47% of houses owned outright - Eden, South Lakeland, East Devon, Tendring, Powys, West Devon, and New Forest. While at four more the ratio is 46% - East Lindsey, Dorset, Broadland, and Torridge. At the other end of the scale, just 8% of households in the London borough of Tower Hamlets are owned outright.