A recent term coined to describe customers that are stuck with the high cost of their lenders Follow-On Rate (after their beneficial rate period expires) due to a change in their own personal circumstances, or due to regulatory changes since they last obtained a mortgage. This common place for self-employed people in the residential market, and for owners of low yielding properties in the BTL sector due to a double whammy of PRA affordability regulations and tax changes to the treatment of mortgage interest as an offsettable cost.