Financial guru Martin Lewis has explained how much homeowners can expect their mortgages to go up by if interest rates keep climbing.
This week, a number of banks and lenders started pulling deals over fears for the UK economy following the Mini-Budget. New Chancellor Kwasi Kwarteng announced the biggest tax cuts in 50 years - alongside increased borrowing.
The pound plunged to an all-time low against the US dollar on Monday following the Mini-Budget and sparked fears that interest rates could rise to 6% next year. When interest rates rise, this affects anyone on a tracker mortgage and normally people on standard variable rate (SVR) deals.
