UBS warns on mortgage stress - repayment buffers narrow and more borrowers switch to "interest only"

As twelve interest rates rises since May last year begin to lash the economy, there's more evidence that borrowers are under increasing stress from surging repayments. Global investment bank UBS thinks that in addition to borrowers being stressed, major banks might also soon come under pressure if households can't meet their mortgage commitments. I speak with UBS head of banking research John Storey.