Homeowners whose mortgages directly track the base interest rate have seen their bills rise by £5,000 since the Bank of England started to hike them.
Yesterday, the Bank of England increased its base interest to 4.5% from 4.25% - which was the 12th rise since December 2021 when the rate was 0.1%.
The base rate is important because it influences what banks and lenders charge people to borrow money or pay on their savings.
