Martin Lewis has warned homeowners they will have to pay more on their mortgages following an increase in interest rates.
On Thursday, the Bank of England put up interest rates from 2.25% to 3% - the biggest increase since 1989. For many homeowners, higher interest rates mean higher mortgage payments.
Consumer expert Martin Lewis took to Twitter to issue a word of warning and explained how mortgage holders could be affected. He acknowledged that many homeowners across the UK could now see their monthly mortgage repayments rise once again, which happened last in September after the mini-budget was announced by former Chancellor Kwasi Kwarteng.
