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Liverpool Echo
Liverpool Echo
Business
Storm Newton

How much your mortgage could go up amid Bank of England interest rate hike

Bank of England JLL

A new tool can help you work out how much your mortgage could increase by.

Our mortgage calculator can tell you how much your monthly repayments could go up after the market was rocked by another rise in interest rates by the Bank of England. Following a meeting of the bank's Monetary Policy Committee (MPC), it was announced that interest rates would rise by 0.75 percentage points to 3%, the biggest jump since 1989.

The move is set to impact an already turbulent mortgage market, which was rocked in September 2022 by former Chancellor Kwasi Kwarteng's now infamous 'mini-Budget'.

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