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The Independent UK

Business

Vicky Shaw

Rate rise spells higher mortgage outgoings amid living costs squeeze

Rachel Springall Bestinvest Fine Country PA Graphics UK Finance

PA Archive

The latest Bank of England base rate rise will place a further squeeze on mortgage borrowers, while savers are yet to feel much benefit from the recent rate hikes, according to experts.

The rate edged up to 1.25% on Thursday, up from 1% previously, and is the latest in a string of hikes.

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