THE Bank of England is today expected to clobber households with the biggest interest rate rise for 30 years. The market expects the Bank to announce a 0.75% point increase to 3% — the highest leve…
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This will mean that a household with a £250,000 mortgage over 25 years on the average SVR rate of 5.4% will see their monthly payments increase by £123.Exactly how much more your bill will depend on the type ofThose on a fixed rate are safe for now - but face a huge jump in borrowing costs when they come to remortgage.
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