Consumer champion Martin Lewis explained how concerned homeowners can find the cheapest mortgage rates amid the hike.
Mortgage rates today hit the highest level for 15 years today - surpassing the peak in the aftermath of the Mini-Budget. The average rate now on a two-year deal is 6.66 per cent.
This level has not been seen since August 2008 during the financial crisis and mortgage rates have soared off the back of thirteen consecutive interest rate rises in a row by the Bank of England, with the base rate now at five per cent, as the Mirror reports.
