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The Independent UK
The Independent UK
National
Vicky Shaw

£5,000 annual increase in the average cost of a mortgage for some borrowers

Rachel Springall Skipton Rightmove UK Finance
PA Archive

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.

The average monthly tracker rate mortgage payment will increase by £23.71 following Thursday’s base rate hike, according to calculations from UK Finance.

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