Bank of England governor Andrew Bailey today offered a glimmer of hope for homeowners as he claimed fixed-rate mortgage deals “should not need to rise as much as they have done”.
It comes after the Bank of England hiked interest rates from 2.25% to 3% - the biggest single increase since 1989 and keeping the base rate at a 14-year high.
Interest rates were set at 0.1% just a year ago.
