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The Independent UK
The Independent UK
National
Danielle Desouza

The whole thing is a scam, says variable rate mortgage holder on interest hike

Bank of England Interest Rates London
PA Wire

The Bank of England pushed up interest rates to 5% from 4.5% on Thursday in order to quell inflation, a move which is set to cause more pain for mortgage holders.

While the bulk of mortgaged homeowners are on fixed-rate deals, meaning they will not immediately feel an impact but they will feel the “pain” when they come to remortgage, those on tracker mortgages will feel the immediate impacts of the 0.5% increase.

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