Summary
HOMEOWNERS are facing a rise in mortgage payments after the Bank of England put up interest rates yesterday to 4.5%, the fourth increase in seven months.
A number of banks announced they would be passing the rise on to their customers. It means the monthly payments of a typical variable repayment mortgage on a 25-year loan of (pounds) 100,000 will have gone up by (pounds) 92.90 a month since rates began rising in November last year.See the full content of this document
Extract
Mortgages Increase As Interest Rates Go Up to 4.5%
The rise brings the base rate to levels not seen since September 2001....
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