Mortgages set to rise as Bank of England hikes interest rate

It's the banks latest bid to tame inflation, which remains stubbornly high

There’s more pain for homeowners, after the Bank of England hiked its base interest rate to 5%, the highest level in almost 15 years and a bigger than expected increase.

The UK Government has already ruled out any further support for those struggling financially but tomorrow the chancellor will meet with mortgage lenders looking for them to do more.

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