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Zahra Khaliq & Aaron Morris

Martin Lewis explains mortgage rises and how much more you may end up paying from this week

Money man Martin Lewis has admitted that homeowners who are coming off their fixed-rate mortgage will see huge price hikes on their monthly mortgage payments.

The Bank of England yesterday announced that some four million households across the United Kingdom will face payment surges, with interest rates expected to rise once more.

Analysts anticipate that the Bank will hike base rates from 3 per cent to 3.5 per cent tomorrow - with Martin taking to ITV to discuss what the percentage point change could mean for homeowners.

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