Martin Lewis has warned how millions of homeowners will see hundreds of pounds added to their mortgage payments.
The MoneySavingExpert founder tweeted after the Bank of England raised interest rates from 0.75% to 1% - a new 13-year high and the fourth consecutive rise since December, when rates were 0.1%.
The base rate is used by banks to determine how much they charge you when you borrow money, as well as how much return you get back on your savings.
