Bank of England raises interest rate to 0.75 per cent — here’s what it means for homeowners

Millions of home owners were hit by another rise in mortgage bills this week as the Bank of England lifted its key interest rate to 0.75 per cent.

The 0.25 per cent hike is the third on the trot ordered by the Bank’s Monetary Policy Committee since December and raises the official cost of borrowing to its highest level since the start of the pandemic two years ago.