Homeowners whose mortgages directly track the Bank of England base rate will see around £50 per month added to their costs typically, according to industry calculations.
The Bank of England raised the base rate by 0.50 percentage points on Thursday, taking it from 1.25% to 1.75%, marking the biggest single rate jump since 1995.
The £50.43 increase was calculated by trade association UK Finance and is based on average mortgage balances.
