Bank of England raises interest to 4.5 per cent in 12th rate hike

UK homeowners whose mortgages directly track the base rate face a total average annual bill hike of around £5,000 , following 12 consecutive hikes in the Bank of England base rate.

It comes one week after the ECB raised deposit rates by a quarter-point to 3.25 per cent, leaving the rate at its highest level since 2008. The average monthly tracker rate mortgage payment will increase by £23.71 following Thursday’s base rate hike, according to ...

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