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The Telegraph - Homeowners face higher mortgages hours after Bank raises rates

Aaron Strutt Image

Homeowners face spending £350 a year more for their mortgage after the latest interest rate rise by the Bank of England.

Aaron Strutt, of mortgage broker Trinity Financial, told The Telegraph that rates were rising on a daily basis. He said: "Over the past ten days, some lenders have increased their mortgage rates three times, proving the banks and building societies are not waiting for Bank of England announcements before they increase the cost of their mortgages. Rates are going up before and after the Monetary Policy Committee’s decisions."

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