Majority of Bank of England bosses punishing home owners with interest rate rises have no mortgages themselves

MOST of the Bank of England chiefs punishing home owners with interest rate rises have no mortgages themselves.

The nine members of the Monetary Policy Committee have a property portfolio worth £13million.

But according to official Land Registry data, seven of them do not have a home loan on their UK properties.

Among them is governor Andrew Bailey who has no loan on his £1.4million pad.

Documents also list no mortgages for chief economist Huw Pill, deputy governor of markets Sir Dave Ramsden, deputy governor of financial stability Sir Jon Cunliffe, and external member Jonathan Haskel.

However, a Bank of England spokesman said that one of those five rate-setters had recently had a home loan.

External members Swati Dhingra, Silvana Tenreyro and Catherine Mann rent in ­London.

Deputy governor Ben Broadbent has a mortgage on a £3million Knightsbridge flat.

It comes as homebuyers face fresh mortgage misery amid fears that interest rates could shoot above five per cent.

Bank bosses were accused of being out of touch after Mr Pill, who is on £190,000 a year, said that people should accept that they are poorer.