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The Guardian - UK

Business

Rupert Jones

How will the UK interest rate hike affect you?

United Kingdom Nationwide Bank of England JLL Moneyfacts UK Finance Zoopla

a for sale sign outside a block of flats — House prices are predicted to fall in 2023, though by how much remains a subject of debate. Photograph: Andy Rain/EPA

The Bank of England has hiked interest rates by 0.75 percentage points to 3% – the eighth rise since last December and the biggest since 1989. So what does this mean for your finances?

How will it affect mortgage payments?

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